From 1997 to 2003, stock prices based on the Standard and Poor's index and the share of investment spending as a component of GDP tended to
A) move in the same direction. B) be unrelated to each other.
C) move in opposite directions. D) both remain relatively unchanged.
A
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Supply-side economics stress that: a. aggregate demand is the major determinant of real output and aggregate employment
b. tax rates are not a major determinant of real output and aggregate employment. c. an increase in government expenditures financed by higher tax rates will cause RGDP to rise. d. marginal tax rate changes can exert a significant impact on RGDP, even in the long run.
Consider the data in Table 9.6. Both firms can benefit if Firm A sells its pollution permit allowing it to generate 100 gallons of wastewater to Firm B for:
A. a price between $7 and $12. B. a price between $0 and $7. C. a price between $12 and $18. D. Both firms cannot benefit if A sells permits to B.
The Blue Ridge Furniture Factory has fixed costs of $10 million and variable costs of $5 million. If it turns out 1 million chairs a year, how much is the average total cost of producing one chair?
What will be an ideal response?
Chapter 1 entitled "Economics: The Study of Opportunity Cost" makes the point that we
A. do not face tradeoffs because we have limited resources. B. can avoid tradeoffs if we simply make the right decisions. C. face tradeoffs because we have limited resources. D. can produce all we want of everything we want if we just work harder.