An American retailer purchased 500 pairs of shoes from a company in Thailand in the second quarter of 2016 but does not sell them to a consumer until the third quarter of 2016 . Which of the following components of U.S. GDP is affected by this transaction in the third quarter of 2016?
a. consumption, investment and imports
b. only consumption and investment
c. only consumption and imports
d. only investment and imports
b
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Everything else held constant, if aggregate output is to the left of the LM curve, then there is an excess ________ of money which will cause the interest rate to ________
A) supply; fall B) supply; rise C) demand; fall D) demand; rise
A monopsonist faces an upward-sloping labor supply curve. This means that his marginal expenditures on labor are
A) greater than the wage. B) equal to the wage plus the increase in the wage resulting from hiring one more unit of labor hired. C) greater than the wage because hiring more workers requires to pay all workers more. D) All of the above.
In the United States, which of the following is an example of a government-sponsored good?
A) wireless networks B) concerts C) cigarettes D) marijuana
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What will be an ideal response?