Which of the following is included in the investment category under the expenditure approach to GDP accounting?
a. stocks
b. bonds
c. durable goods
d. additions to business inventories
d
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State and local spending in 2007 on police, courts, fire, and corrections represented
a. less than 10 percent of all government spending on police, courts, fire, and corrections b. about one quarter of all government spending on police, courts, fire, and corrections c. nearly half of all government spending on police, courts, fire, and corrections d. roughly two thirds of all government spending on police, courts, fire, and corrections e. 85 percent of all government spending on police, courts, fire, and corrections
The profit-maximizing firm will be earning total revenue of
A. OFIN.
B. OFJM.
C. OFKL.
D. OGHM.
Exhibit 11-4 Supply and demand curves for food servers
If the equilibrium wage rate in Exhibit 11-4 increased, the cause could be that:
A. the wage increased. B. the marginal product of labor decreased. C. either the demand for labor increased or the supply of labor decreased. D. the price of the product produced by the labor decreased.
Opportunity cost is the difference between the nominal and real cost of some action.
Answer the following statement true (T) or false (F)