Capital goods are
A. publicly provided.
B. excluded from GDP.
C. long-lived goods used for producing other goods and services.
D. the end products of production.
Answer: C
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Refer to Table 20-9. Suppose that the data in the table above reflect the price levels in the economy. Given that data, we can say that the cost of living rose by ________ between 2015 and 2016?
A) 2% B) 5% C) 8% D) 11% E) 13%
Assume that the central bank increases the reserve requirement. If the nation has low mobility international capital markets and a flexible exchange rate system, what happens to real GDP and current international transactions in the context of the Three-Sector-Model?
a. Real GDP falls, and current international transactions become more negative (or less positive). b. Real GDP rises, and current international transactions become more negative (or less positive). c. Real GDP and current international transactions remain the same. d. Real GDP rises, and current international transactions remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
Monopolistically competitive firms, like monopoly firms, maximize their profits by charging a price that exceeds marginal cost
a. True b. False Indicate whether the statement is true or false
During the short run:
A. All inputs can be changed. B. Some inputs are fixed. C. Factory size can be changed. D. The number of workers cannot be changed.