Durable and nondurable goods and services lumped together in the expenditure approach to measuring GDP are called:
A. Personal consumption.
B. Gross private domestic investment.
C. Government spending.
D. Inventory.
Answer: A
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Countries with low levels of GDP per capita usually also have:
A. mandatory military service. B. highly developed infrastructures. C. low levels of schooling. D. high levels of schooling.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, an increase in unemployment may be represented by the movement from
A. B to A. B. A to C. C. C to D. D. B to D.
Refer to the scenario above. Which of the following is likely to happen if the service center has a reputation of trustworthiness?
A) You will trust the mechanic and he will cooperate. B) You will trust the mechanic but he will defect. C) Neither of you will gain from trade. D) Only the mechanic will gain.
How do open market operations work?
What will be an ideal response?