If you buy a brand new, American-made laptop computer to track stock prices in your career as a stockbroker, then it will be classified in GDP accounting as
a. a change in business inventory
b. a consumption expenditure
c. an investment expenditure
d. a service good
e. a household expenditure
C
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Why do we analyze the steady state in the Malthusian model?
A) Because that is all we know how to do. B) Because there is a non-steady state that is not interesting. C) Because this is the Pareto optimum. D) Because the long run equilibrium of the model is the steady state.
Of the top-10 U.S. multinationals, the majority are in which of the following two industries?
a. oil and automobiles b. banking and energy c. services and fast food d. clothing and entertainment e. computers and soft drinks
In the product market
A) businesses trade goods and services for resources.
B) consumers trade monetary payments for goods and services.
C) consumers trade goods and services for resources.
D) consumers trade resources for goods and services.
Refer to the graph above. If the price decreases from P3 to P2, then the loss in total revenue is areas:
A. B + E and the gain in total revenue is areas H + I. B. A + B + C + D and the gain in total revenue is areas E + F + G. C. H + I and the gain in total revenue is areas A + B + C. D. E + F + G and the gain in total revenue is areas H + I + J.