If real GDP declines for at least one-half year, the economy is experiencing a:
a. depression.
b. decline.
c. recession.
d. growth recession.
e. deflation.
c
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What would the Nash equilibrium be in this game?
a. Neither of the players would stop b. Both of the players would stop c. Player A stops d. Player B stops
Consumption expenditures include spending by households on:
A. inventories. B. exports. C. residential housing. D. services.
Gross investment is the
A. Wearing out of plant and equipment. B. Consumption of capital in the production process. C. Alternative combinations of final goods and services that can be produced with all available resources and technology. D. Total investment expenditure in a given time period.
Which of the following is an act of economic "investment"?
A. A brewer purchases a new fermentation system for his beer. B. An entrepreneur buys 5,000 shares of stock at $5 a share and then sells the stock at a profit for $60 a share. C. A teacher deposits $500 in a retirement account. D. The state legislature authorizes the sale of a state park.