Which of the following is an example of investment in computing Gross Domestic Product (GDP)?
A. the purchase of company stock by a retiree
B. a laptop purchased by a student
C. an increase of inventory stock in a retail store
D. a deposit of $10,000 in a bank
Answer: C
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What assumptions are made concerning wages and prices in a classical economic model?
What will be an ideal response?
If the British pound appreciates from $0.50 per pound to $0.75 per pound, the U.S. dollar depreciates from ________ per dollar to ________ per dollar
A) £2; £2.5 B) £2; £1.33 C) £2; £1.5 D) £2; £1.25
Figure 3-18
Refer to . Which area represents consumer surplus at a price of P1?
a.
ABD
b.
ACF
c.
BCDE
d.
DEF
If the price level decreases, what will happen to the level of real GDP supplied?
A. It will usually decrease. B. It will usually increase. C. Nothing. D. It will decrease at first and then increase.