For normal goods which of the following explains why demand curves slope downward?
A) prices and income
B) substitutes and complements
C) resources and technology
D) substitution effect and income effect
D
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A downward-sloping demand curve suggests that consumers
A) buy less at lower prices. B) buy more at higher prices. C) plan to buy more at a given, lower price. D) ignore marginal benefits and only focus on the supply of a product.
How are intermediate goods treated in the calculation of GDP?
A) Their value is counted separately, and their value is also included as part of the value of the final good for which they are an input. B) Their value is counted separately, but is not included as part of the value of the final good for which they are an input. C) They are included only if they are imported. D) Their value is not counted separately, but included as part of the value of the final good for which they are an input.
Which groups were opposed to the Bank of the United States?
A) northeastern industrial interests B) northeastern financial interests C) southern and western agrarian and small-business interests D) exporters
Acme Brands invested $5 million in 2010 on new equipment, spent $750 thousand to increase its inventory of intermediate components, and added $25 thousand to its inventory of finished goods
At year's end, the components inventory is found to be $200 thousand above its beginning-of-the- year level, and finished goods inventory is up $30 thousand over its starting level. Calculate planned investment, unplanned investment, and actual (total) investment.