Which of the following examples would most likely be considered a producer good?
a. an employee’s truck near an office building
b. a sidewalk outside a factory building
c. a coffee machine used in a break room
d. a building housing an assembly line
d. a building housing an assembly line
You might also like to view...
Suppose a 25% off sale on post-holiday merchandise creates a 50% increase in post-holiday sales. The price elasticity of demand is:
A) 2.0. B) .75. C) .50. D) .25. E) none of the above.
If the money supply is $600 and nominal income is $3,600, the velocity of money is
A) 1/60. B) 1/6. C) 6. D) 60.
The rational expectations hypothesis states that
A. people understand how the economy operates and use their knowledge in making expectations about the future, but are uninformed about how fiscal and monetary policies are made and carried out. B. people combine the effects of past policy changes on important economic variables with their own judgments about the future effects of current and future policy changes. C. people combine the effect of past policy changes on important economic variables with unpredictable views on what policy makers will do to determine what the economy will do in the future. D. the government combines the effects of past policy changes on important economic variables with accepted views about the effects of current and future policy changes.
An increase in planned investment causes
A. output to increase. B. output to decrease by an amount equal to the decrease in investment. C. output to decrease, but by a larger amount than the decrease in investment. D. output to decrease, but by a smaller amount than the decrease in investment.