In what category is the purchase of a computer by a person for household use in national income accounting?
A. The purchase is not included at all, but the value of services the computer gives is included in consumption each year.
B. It is counted as consumption.
C. It is counted as consumption if the computer was manufactured in the United States; otherwise it is ignored.
D. It is included as part of investment.
Answer: B
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A) is decreasing as "x" increases. B) is increasing as "x" increases. C) is constant as "x" increases. D) cannot be calculated for large levels of "x".
If Happy Campers has a market share of 55 percent and Campers R Us has a market share of 15 percent, according to Chinese law, Happy Campers ________ be considered a dominant firm and Campers R Us ________ be considered a dominant firm.
A) would not; would not B) would not; would C) would; would D) would; would not
Economics is called an empirical science because
A. economists study real-world evidence to test their models. B. economic analysis is only useful in a pure market economy. C. economists use assumptions to test their models. D. economic models have no predictive power.
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A) 8. B) 16. C) 15. D) 30.