A market economy answers the question "what" goods will be produced by focusing on
a. dollar votes
b. least-cost method of production.
c. who can afford these goods.
d. none of the above
a
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Which of the following is not an intermediate good?
A. Tires purchased by Ford to put on their new Explorers. B. Tires sold by Goodyear to put on your Explorer. C. Tomatoes used by Ortega to make their salsa. D. Beef purchased by McDonald’s to make a Big Mac.
What is meant by a final good or service as opposed to an intermediate good or service? Why are only final goods and services included in the calculation of GDP?
When producers are hopeful about the economic business outlook, they often
A. decrease their inventory levels. B. decrease their purchase of new goods. C. increase their investment in capital goods. D. increase their investment in savings.
YearCPI2010952011100201210520131042014106According to the table shown, how do we interpret what happened between 2011 and 2014? The cost of living:
A. decreased 0.98 %. B. increased 6 %. C. decreased 2 %. D. increased 1.06 %.