In 2015, you buy a beautiful vintage 1965 Thunderbird convertible. This purchase would
a. be included in the GDP for 2015.
b. not be included in the GDP for 2015.
c. be included in both the GDP for 1965 and 2015.
d. be in the GDP for 2015 at a depreciated value.
b
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The figure above shows the costs for the typical grower in the perfectly competitive turnip market. Currently, the price is $1,000 for a ton of turnips. In the long run, the market supply of turnips will ________
A) decrease and the price of a ton of turnips will fall to $600 B) increase and the turnip grower's economic profit will increase C) increase and the turnip grower's economic profit will decrease D) decrease and the price of a ton of turnips will rise to $1,200
After 1995 U.S. growth rate ________ and the European Rate ________
A) slowed down; speeded up B) speeded up; slowed down C) slowed down; slowed down D) speeded up, speeded up
If Christopher earns $80,000 in taxable income and pays $20,000 in taxes, his average tax rate is 20 percent
a. True b. False Indicate whether the statement is true or false
How do banks potentially make economic downturns more severe and how do economic downturns contribute to the increased failure of banks?
What will be an ideal response?