Plant, equipment, software, new housing, and inventories are part of
A. gross national product.
B. the value-added approach of calculating GDP.
C. gross private domestic investment.
D. net exports.
Answer: C
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Explain how an increase in technology, which increases the productivity of labor, will affect the labor market, the production function, and aggregate output. Provide graphs to illustrate
What will be an ideal response?
An agreement signed between Canada and the United States allowing free exchange of goods between them has aided the process of _____
a. privatization b. specialization c. globalization d. decentralization
Refer to the information provided in Figure 3.7 below to answer the following question(s).
?Figure 3.7Refer to Figure 3.7. If pizza and burritos are substitutes, a decrease in the price of burritos will cause a movement from Point B on demand curve D2 to
A. Point C on demand curve D2. B. Point A on demand curve D2. C. demand curve D3. D. demand curve D1.
A ________ is the price at which a trading partner is indifferent between making the trade and not doing so
A) market value B) reservation value C) shadow value D) discounted value