All of the following are real quantities except the:
A. millions of computer chips shipped to computer makers.
B. tons of steel shipped to South America.
C. billions of dollars invested in stocks.
D. number of new cars produced in one year.
Answer: C
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Suppose the government levies a per-unit tax on TVs, and this tax increases the price of TVs by $100. Model TVs as x1 and all other goods as a composite good x2. a. For a consumer with income I, write down an equation for the before-tax budget line. b. Write down the after-tax budget line equation. c. Suppose you know the bundle on the after-tax budget that is chosen by the consumer contains 3 TVs. How much in tax revenue is the government raising from this consumer? d. If the government replaced the tax on TVs with a lump sum tax that does not alter any prices but raises the same amount of revenue from the consumer, how would this change the consumer's budget line equation?
What will be an ideal response?
In the above figure, the amount of tax revenue is
A) $2,000. B) $4,000. C) $6,000. D) $8,000.
Firms in perfect competition produce the productively efficient output level in the short run and in the long run
Indicate whether the statement is true or false
Which of the following is an example of physical capital?
a. the available knowledge on how to make semiconductors b. a taxi-cab driver's knowledge of the fastest routes to take c. bulldozers, backhoes and other construction equipment d. All of the above are correct.