As economists use the word, investment refers only to an increase in capital.
Answer the following statement true (T) or false (F)
True
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In general, the optimal amount of medical care is:
A. enough to stay healthy. B. the quantity at which the total cost of the care equals its total benefit. C. as much as one can afford. D. the quantity at which the marginal cost of the care equals its marginal benefit.
In the model of the money supply process, the bank's role in influencing the money supply process is represented by
A) the excess reserve. B) both the excess reserve and the market interest rate. C) the currency ratio. D) only borrowed reserves.
Which of the following examples will most likely have consistent sales over time?
a. skillets b. automobiles c. sofas d. chicken
In a country like Saudi Arabia, which earns substantial income from holding the stocks and bonds of other countries, we would expect
A) GNP to be larger than GDP. B) a current account deficit. C) a current account surplus larger than GNP. D) a current account surplus larger than GDP. E) GDP to be larger than GNP.