Which of the following transactions would be included in GDP for 2015?
A. On January 5, 2015, Chris Carter sold 100 shares of stock in IBM Corporation.
B. Bonita Delgado purchases a new 2015 Chevrolet on March 10, 2015.
C. Nadav Daniel buys a used desk from the “Struggling Students Used Furniture” store on May 9, 2015.
D. Levi Lathan purchases a 75-year-old penthouse on Lake Shore Drive in Chicago, Illinois, on June 23, 2015.
Answer: B
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A monopolistically competitive firm will always choose to produce where
A) marginal revenue equals marginal cost. B) marginal cost meets the demand curve. C) average total cost meets the demand curve. D) average total cost is minimized.
On the graph above, for a while after t = 0, the growth rate of technology is ________ the growth rate prior to time zero, and ________
A) below; falling B) below; rising C) above; constant D) above; falling
The equilibrium effects of a temporary increase in government spending include
A) an increase in the real wage and an increase in the real interest rate. B) an increase in the real wage and a decrease in the real interest rate. C) a decrease in the real wage and an increase in the real interest rate. D) a decrease in the real wage and a decrease in the real interest rate.
By selecting a bundle where MRS = MRT, the consumer is saying
A) "I value my last unit of each good equally." B) "I am willing to trade one good for the other at the same rate that I am required to do so." C) "I will equate the amounts spent on all goods consumed." D) All of the above.