Which of the following purchases do national income accountants consider to be investment?
A. An automobile for private, nonbusiness use
B. Corporate bonds
C. A new house
D. Gold coins
Answer: C
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Argentina provides a recent example of a currency board success
Indicate whether the statement is true or false
A $0.50 tax on lemons currently generates $200 in revenues per day. If the tax were increased to $2, the revenues generated would drop to $70. This tells you that in this range of tax rates the:
A. quantity effect outweighs the price effect. B. quantity effect outweighs the income effect. C. price effect outweighs the quantity effect. D. price effect outweighs the income effect.
Which of the following would not cause a shift in the supply curve for a good?
a. An increase in demand for that good. b. An increase in the cost of labor used to produce that good. c. A change in the cost of raw materials used to produce that good. d. A decrease in the cost of machinery used to produce that good.
In order to maximize profit, a firm that produces its output in two plants will produce the level of total output at which the last unit of output produced adds the same amount to total revenue as to the
A. second plant's total cost. B. first plant's total cost. C. firm's total cost D. both a and b