Which of the following is included in the investment component of GDP?
a. spending on new business equipment such as power tools and spending on stocks and bonds
b. spending on new business equipment such as power tools but not spending on stocks and bonds
c. spending on stocks and bonds but not spending on new business equipment such as power tools
d. neither spending on new business equipment such as power tools nor spending on stocks and bonds
b
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The government has a budget surplus if
A) there is no national debt. B) tax revenue is greater than outlays. C) government outlays are greater than tax revenue. D) the budget is balanced. E) a fiscal stimulus is being used to combat a recession.
Over its history, Brazil has borrowed more from the rest of the world than it has loaned to the rest of the world. Brazil
A) eventually will have a balance of payments account that does not balance. B) is a debtor nation. C) is a creditor nation. D) has no current account balance.
Much of a person's increased productivity can be linked to
A) on-the-job training. B) the prevalent marginal tax rate. C) the price elasticity of demand for the product. D) the income elasticity of demand for the product.
Suppose that if your income is $50,000, your tax is $5,000, but if your income is $100,000, your tax is $8,000. Such a tax is
A. Regressive. B. An excise tax. C. Proportional. D. Progressive.