In 1933, net private domestic investment was negative $6.0 billion. This means that ________.
A. gross private domestic investment exceeded depreciation by $6.0 billion
B. the production of 1933's GDP used up more capital goods than were produced in that year
C. the economy was expanding in that year
D. the economy produced no capital goods at all in 1933
Answer: B
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Robinson spends all his income on mangos and bananas. Mangos cost $3 per pound. Robinson's marginal utility is 30 for the last pound of mangos purchased and 10 for the last pound of bananas
If Robinson maximizes his utility from consuming these goods, the price of bananas is A) $0.50 per pound. B) $1 per pound. C) $2 per pound. D) $3 per pound.
Along the portion of the consumption function that lies above the 45-degree line, saving is
A) positive. B) negative. C) equal to zero. D) equal to consumption.
You are sick and tired of your old wardrobe. You decide to donate it to a charity of your choice. Your action
a. Creates wealth by moving the clothes from lower value use to higher value use b. Destroys wealth since you lose your clothes c. Creates wealth by making you feel richer d. All of the above
Answer the following statement(s) true (T) or false (F)
1. Funding for publicly owned treatment works (POTWs) was originally in the form of loans and later moved to a federal grant program. 2. The Clean Water State Revolving Fund (CWSRF) program replaced the federal grant program and established state loans to support POTW construction and other projects. 3. Funding through the Clean Water State Revolving Fund (CWSRF) program was supplemented by funds allocated through the American Recovery and Reinvestment Act of 2009. 4. Ultimately, federal subsidies of POTW construction accomplished little in terms of improving waste treatment for the U.S. population. 5. Empirical research indicates that federal grants added dollar-for-dollar to POTW construction that would not otherwise have been completed at the local level.