Durable goods, nondurable goods, and services are part of __________ and fall in the category of ________
a. GDP; personal consumption
b. GDP; gross private domestic investment
c. GDP; government purchases
d. national income; inventory
e. national income; employee compensation
A
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Bananas cost about $1 a pound and ground beef costs about $3 a pound. If Jenna has $18 to spend on groceries and she only buys bananas and beef, which of the following is a possible combination of these goods that could maximize her total utility?
A) 18 lbs of bananas and 6 lbs of beef B) 10 lbs of bananas and 8 lbs of beef C) 8 lbs of bananas and 3 lbs of beef D) 3 lbs of bananas and 5 lbs of beef
Suppose the interest rate is 5 percent per year. The present value of $210 to be received one year from today is
A) $200.00. B) $210.00. C) $215.00. D) $220.50.
Which of the following is classified as an asset for a commercial bank customer?
A) A car loan B) A commercial loan C) Demand deposits D) Deposits with the Federal Reserve
Suppose a market were currently at equilibrium. A rightward shift of the supply curve would cause a(n)
A) increase in price but a decrease in quantity. B) decrease in price but an increase in quantity. C) increase in both price and quantity. D) decrease in both price and quantity.