In the economic way of thing, speculation could be effectively abolished if society could abolish
A) money.
B) greed.
C) profit seeking.
D) private property rights.
E) uncertainty.
E
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Capital goods are typically purchased to ________. They get included in GDP ________
A) replace raw materials; in the year they are produced B) enable the investor to produce other goods and services; in each year they are utilized C) enable the investor to consume less in the current period; as they are used up in the stages of production D) enable the investor to produce other goods and services; in the year they are produced E) none of the above
In the quantity theory of money, which of these variables is endogenous?
A) the price level B) the velocity of money C) real output D) the money supply E) none of the above
A question on an economics exam asks, "What happens in the market for jelly when the price of peanut butter increases?" Allison, an excellent student, shows the demand for jelly increasing. Is she necessarily wrong? Why or why not?
If the unemployment rate rose from 6 percent to 7 percent,
A. Cyclical unemployment went up by more than 1 percent. B. Cyclical unemployment went up by 1 percent. C. Cyclical unemployment went up by less than 1 percent. D. Cyclical unemployment stayed the same. E. Cyclical unemployment went down.