Which of the following is a final good or service?
a) a haircut purchased by a father for his 12 year-old son
b) fertilizer purchased by a farm supplier
c) diesel fuel bought for a delivery truck
d) Chevrolet windows purchased by a General Motors assembly plant
a) a haircut purchased by a father for his 12 year-old son
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Please draw a figure illustrating the actions the central bank must take to maintain a fixed exchange rate following an increase in output
What will be an ideal response?
The funds used to purchase capital goods are called
A) investment. B) savings. C) financial capital. D) dividends and interest.
Jeff and Roel like to eat pizza twice a week, burritos once a week, and steak four days a week. This variety of dinner choices illustrates the concept of:
A. instable preferences.. B. negative marginal utility. C. diminishing marginal utility. D. income maximization.
Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher