The U.S. non institutional population excludes
a. members of the resident armed forces.
b. all students under the age of 18.
c. persons in prisons and medical institutions.
d. All of these.
c. persons in prisons and medical institutions.
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An international agency uses the prices of iPads in different countries to compute the exchange rate between the currencies of these countries. Which of the following measures is based on a similar idea?
A) The midcap index B) The Human Development Index C) The Big Mac Index D) The GDP deflator
______ is what customers are WILLING to pay for marginal benefit of a product
A. Equibrium B. Price C. Value D. Utility
Which of the following exemplifies why it is unlikely that a country would specialize in just one product?
a. A hurricane late in the growing season destroyed the entire sugar cane crop. b. Varieties of figs would grow but rarely ripen in the cooler, northern climate. c. The Playstation video game console sold more units than any other system. d. Food trends indicated that people were increasing their fruit consumption.
Purchases of new plants and equipment plus any desired changes in business inventories are
A. Economic investment. B. Actual investment. C. Undesired investment. D. Desired investment.