In economics, investment is defined as
A) disposable income plus consumption.
B) disposable income minus consumption.
C) the spending by businesses on capital goods and inventories.
D) the spending by households on human capital and durable goods.
C
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The major difference between a closed economy and an open economy is that a(n)
a. closed economy balances budget, while an open economy does not. b. open economy is a market economy, while a closed economy relies on planning. c. open economy interacts with the rest of the world, while a closed economy does not. d. closed economy keeps political affairs secret, while an open economy does not.
A production possibilities frontier is a graph that shows the combination of outputs that an economy should produce
a. True b. False Indicate whether the statement is true or false
When oligopolistic firms interacting with one another each choose their best strategy given the strategies chosen by other firms in the market, we have
a. a cartel. b. a group of oligopolists behaving as a monopoly. c. a Nash equilibrium. d. the perfectly competitive outcome.
__________________: Occasionally, properties are sold with nonmarket financing. Favorable mortgage financing may allow buyers to pay a somewhat higher purchase price
Fill in the blank(s) with the appropriate word(s).