Which of the following does not constitute a household consumption item?
a. A pair of jeans
b. A bottle of Beck's beer
c. A haircut
d. A steam turbine electric generator
e. A packet of breakfast cereal
d
You might also like to view...
The German central bank, the Bundesbank, faced the risk of increased inflation caused by its actions to support an overvalued deutsche mark in the 1960s
Indicate whether the statement is true or false
What most accurately describes the implementation of the New Deal?
a. It was implemented in two phases over the course of about eight years. b. Its major reforms were implemented in the first 100 days of Franklin Roosevelt's Presidency. c. The first elements of the New Deal that were implemented were the most politically liberal. d. Most of the reforms were temporary and were phased out by World War II.
The Fed's control of the money supply is not precise because
a. Congress can also make changes to the money supply. b. there are not always government bonds available for purchase when the Fed wants to perform open-market operations. c. the Fed does not know where all U.S. currency is located. d. the amount of money in the economy depends in part on the behavior of depositors and bankers.
When voting mechanisms substitute for the market mechanism in allocating resources, we are relying on
A. Cost-benefit analysis. B. Public choice theory. C. Opportunity cost analysis. D. Ballot box economics.