New residential housing is counted in GDP as a(n)
a. durable consumption good
b. household durable good
c. investment good
d. inventory expansion
e. long-term durable good
C
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Refer to Figure 18.4. With an import ban, what is the equilibrium quantity of gloves in Duckland?
A) 100 B) 80 C) 60 D) 40
A favorable balance of trade occurs when
a. merchandise exports are greater than merchandise imports b. merchandise imports are greater than merchandise exports c. international trade is an increasing share of total output d. the balance on capital account equals the balance on current account e. unilateral transfers are positive
Volume, as reported in stock tables, refers to the
a. number of shares traded. b. percentage of shares outstanding traded. c. number of shares traded times the price they sold at. d. number of shares of a company traded divided by the shares of all companies traded.
The law of diminishing marginal utility gives us insight into the downward-sloping demand curve because consumers are willing to pay a higher price for goods with high marginal utility.
Answer the following statement true (T) or false (F)