Productivity in the services industry may be underestimated because measurements of productivity do not take into account the quality of the service provided
a. True
b. False
Indicate whether the statement is true or false
True
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Other things being equal, a decrease in an economy's exports will
A. decrease domestic aggregate expenditures and the equilibrium level of GDP. B. increase domestic aggregate expenditures and the equilibrium level of GDP. C. increase the amount of imports consumed by the private sector. D. have no effect on domestic GDP because imports will offset the change in exports.
A monopolistically competitive firm has ________ power to set the price of its product because ________
A) no; there are no barriers to entry B) some; there are barriers to entry C) no; of product differentiation D) some; of product differentiation
In China prior to 1990, most residential buildings were dilapidated because:
a. people were not aware of maintenance and beautification techniques. b. the government did not encourage wastage of resources for such purposes. c. no one had a property right to a home. d. all the properties were inherited. e. the people had private property rights so they did not have an incentive to repair the houses.
Consumption spending is $16 million, planned investment spending is $4 million, unplanned investment spending is $2 million, government purchases are $6 million, and net export spending is $1 million. What is aggregate expenditure?
What will be an ideal response?