If net investment in 2017 is $500 billion and gross investment in 2017 is $900 billion, depreciation in 2017 is
A. -$500 billion.
B. $0.
C. $400 billion.
D. $1,400 billion.
Answer: C
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Which of the following explains why frictional unemployment exists in an economy?
A) It arises because job search is completely a supply side phenomenon in the labor market, and firms make no attempts to advertise for the vacancies they have. B) It arises because most of the workers shirk at work. C) It arises because it takes time for an unemployed worker to find a firm with a well-matched job vacancy. D) It arises because unemployment benefits encourage workers not to look for jobs.
For each watch Switzerland produces, it gives up the opportunity to produce 50 pounds of cheese. Germany can produce one watch at a cost of 100 pounds of cheese. Which of the following is true?
a. The opportunity cost of producing watches is greater in Switzerland. b. The opportunity cost of producing cheese is greater in Switzerland. c. The opportunity cost of producing cheese is the same in both countries. d. It is impossible to compare costs because the two countries use different technologies. e. In the two countries combined, the cost of producing one watch is 150 pounds of cheese.
If demand is elastic, and the government decides to raise the tax on new cars, the price of cars will increase by a ________ amount and car buyers will bear a ________ share of the tax.
A. large; large B. large; small C. small; large D. small; small
To maximize profit a monopolist will produce where
A) marginal revenue is equal to marginal cost. B) demand for its product is unit elastic. C) revenue per unit is maximized. D) average total cost is equal to average revenue.