Which of the following is included in the investment component of GDP?
a. households' purchases of newly constructed homes
b. net additions to firms' inventories
c. firms' purchases of capital equipment
d. All of the above are correct.
d
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If two variables have the same rate of growth over the long run, their ratio will:
A) remain constant over the long run. B) initially decrease and then increase. C) decrease over the long run. D) increase over the long run.
A fall in the price level produces a ________ the aggregate demand curve
A) change in the slope of B) movement downward along C) leftward shift of D) rightward shift of E) movement upward along
Refer to Table 23-3. Given the consumption schedule in the table above, the marginal propensity to save is
A) 0.1. B) 0.4. C) 0.7. D) 0.9.
For which of the following products is the consumer's demand curve most likely to be vertical?
a. lobster, for a seafood lover b. cars, for high school students c. insulin, for a diabetic d. compact disks, for a music lover e. beef, for a food lover