According to the Application, the market price of meteorites varies from a few dollars per gram to hundreds of dollars per gram. In a market system like the market for meteorites, prices vary due to
A) government intervention in the pricing of the products.
B) outsourcing.
C) the lack of accounting rules in this market.
D) the relative scarcity, or rarity, of the product.
D
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The expenditure approach to measuring U.S. GDP equals _________
A. the sum of U.S. consumption expenditure and U.S. investment B. U.S. government expenditure minus taxes paid by Americans C. all expenditure on final goods and services produced in the United States in a given time period D. all expenditure by Americans on goods and services produced in the United States in a given time period
Suppose you have four choices—go to a movie, read a book, watch television, or go to a concert. You choose to go to a movie. The opportunity cost of the movie is
A) the value of the book not read. B) the value of the television program not watched. C) the value of the concert that you didn't attend. D) the value of the activity that you would have selected if you hadn't gone to the movie.
What is the future value of $100 in 2 years that earns an annual interest rate of 5 percent?
A) $110.41 B) $102.25 C) $110.25 D) $105.50
If a $30 increase in U.S. exports to France causes a $150 increase in U.S. national income, the value of the marginal propensity to consume in France is
a. 0.80 b. 0.20 c. 2 d. not discernible given the information provided e. 120