Which of the following would be included in a year's GDP?
a. Susan cleans the fuel injectors on her car.
b. A private individual purchases 100 shares of IBM stock.
c. A timber company purchases land in Oregon.
d. A man buys an antique desk from his neighbor.
e. A college professor purchases a new computer.
E
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Use the following table to answer the question below.Alexandra's Production Possibilities ScheduleNatalia's Production Possibilities ScheduleNumber of Scarfs Knitted per dayNumber of Sweaters Knitted per dayNumber of Scarfs Knitted per hourNumber of Sweaters Knitted per hour040433236242916112080If they are given 3 days to work how many sweaters could Natalia make if she spent the whole time knitting scarves?
A. 4 B. 16 C. 12 D. 24
In which set of market models are there the most significant barriers to entry?
A. monopolistic competition and pure competition B. monopolistic competition and pure monopoly C. oligopoly and pure monopoly D. oligopoly and monopolistic competition
During 2008 the supply of gasoline decreased while at the same time the demand for gasoline increased If the magnitude of the increase in demand was greater than the magnitude of the decrease in supply, then the equilibrium price of gasoline ________ and the equilibrium quantity ________.
A) increased; increased B) increased; decreased C) increased; did not change D) decreased; did not change E) did not change; increased
The consumption function shows the relationship between planned real consumption spending and
A. the average propensity to consume. B. real disposable income. C. the marginal propensity to consume. D. planned real saving.