Which of the following expenditures associated with the production of a new high-performance SUV will be directly included in GDP?
A) the sale of bonds to finance the construction of the assembly plant
B) the purchase of used welding robots to assemble to vehicles
C) the purchase of new tires to be installed on the new vehicles
D) the purchase of new machine tools to manufacture the engines
D
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The following is a hypothetical short?run production function: Hours of Total Marginal Labor Output Product 0 ___ ___ 1 100 100 2 ___ 80 3 240 ___ Refer to Scenario 1. What is the total output when 2 hours of labor are employed?
A. 180 B. 170 C. 150 D. 140
Refer to the graph. Which of the lines in the diagram represent(s) a progressive tax?
A. Both A and B.
B. D only.
C. C only.
D. B only.
A Chinese restaurant wants to expand its business by acquiring a neighboring dry cleaner. In this case,
A) eminent domain would likely be used to reduce transactions costs. B) eminent domain would likely be used to reduce the holdout problem. C) eminent domain would not likely be used. D) eminent domain would likely be used because this transaction would increase cooperative surplus.
According to the text, there are three ways the government can help increase the accumulation of knowledge capital. What are they?
A) encouraging the use of trade secrets, expanding student loan programs, and increasing the minimum wage B) reducing taxes on capital, increasing Social Security payments, and lowering the exchange rate C) increasing taxes on firms, eliminating patents, and increasing the minimum wage D) protecting intellectual property rights, subsidizing research and development, and subsidizing education