The calculation of the final goods and services sold in an economy would NOT include
A) the purchase of a lawnmower by a household.
B) General Motors' purchases of tires for new automobiles.
C) Ford Motor Company's purchase of a new industrial robot to be used to produce cars.
D) the purchase of a service by a household.
B
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Think of the interest rate as the "price" of a home loan. Other things constant, if people expect interest rates to rise significantly over the next couple months, their willingness to purchase a home financed by a mortgage today will tend to
A) rise. B) fall. C) remain unchanged. D) do any of the above because home purchase decisions are independent of interest rates on mortgages.
Refer to the scenario above. Which of the following will happen in this case?
A) Neither of them will make any money. B) Only Elly will make money. C) Elly will trust, but her employee will defect. D) Elly will trust, and her employee will cooperate.
Average variable cost can be calculated using any of the formulas below except
A) ?(TC - FC)/?Q. B) TVC/Q. C) (TC - FC)/Q. D) (TC/Q) - AFC.
An import tariff will cause the terms of trade of the ________ country to ________ and will ________ the country
A) importing; improve; benefit B) exporting; improve; benefit C) importing; suffer; harm D) exporting; improve; harm E) importing; improve; harm