Which of the following would increase the investment component of U.S. GDP?
A. You purchase a new clothes washing machine produced in the U.S.
B. A laundry in Mexico purchases a new clothes-washing machine produced in the U.S.
C. You purchase a new clothes washing machine produced in France.
D. A laundry in Seattle purchases a new clothes-washing machine produced in the U.S.
Answer: D
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Which of the following statements regarding equilibrium in the markets for capital and for a natural resource used in producing a good is true?
A) The marginal revenue product of capital will equal the rental price of capital and the marginal revenue product of the natural resource will equal the price of the natural resource. B) The rental price of capital will equal the price of the natural resource. C) The marginal product of capital will equal the rental price of capital and the marginal product of the natural resource will equal the price of the natural resource. D) The marginal revenue product of capital will equal the marginal revenue product of the natural resource.
For this question, assume that the Phillips curve equation is represented by the following equation: ?t - ?t-1 = (m + z) - ?ut. Given this information, the natural rate of unemployment will be equal to
A) m + z. B) (m + z - ?). C) ?(m + z). D) 0. E) none of the above
Assuming no externalities exist, if a good's price is more than its marginal cost, then the benefits consumers derive are ________ than the cost of resources needed to produce it and ________ should be produced.
A. less; less B. less; more C. greater; less D. greater; more
The firm's long-run supply curve begins at an output of
A. 100.
B. 150.
C. 215.
D. 300.