Capital goods are treated as ________ goods and, therefore, are ________ GDP.
A. intermediate; excluded from
B. final; excluded from
C. intermediate; included in
D. final; included in
Answer: D
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New growth theory asserts that
i. human capital grows because of choices. ii. discoveries result from choices. iii. competition brings profits. A) i only B) ii only C) iii only D) both i and ii E) both i and iii
If the required reserve ratio is one-third, currency in circulation is $300 billion, and checkable deposits are $900 billion, then the currency-deposit ratio is
A) 0.25. B) 0.33. C) 0.67. D) 0.375.
In ____ price discrimination, the monopolist charges each consumer the highest price that purchaser is willing to pay for each unit purchased (provided that this price exceeds the marginal cost of production)
a. first-degree b. second-degree c. third-degree d. a and b e. none of the above
If a consumer allocates income between goods A and B, total utility is maximized when:
a. the marginal utility of A = the marginal utility of B. b. the marginal utility of A = the marginal utility of B = 0. c. the price of A = price of B. d. marginal utility of A / price of A = marginal utility of B / price of B = 0. e. marginal utility of A / price of A = marginal utility of B / price of B.