An example of unplanned investment is
a. an unexpected fire requires that an entire factory be rebuilt.
b. a bridge collapses and requires unexpected repair cost.
c. machine tool companies are forced to install new equipment to be able to meet Japanese competition.
d. None of these.
d. None of these.
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Which of the following statements is TRUE?
A) Both wealth and income measure variables over a period of time. B) Wealth measures a variable at a point in time and income measures a variable over a period of time. C) Wealth measures a variable over a period of time, and income measures a variable at a point in time. D) Both wealth and income measure variables at a point in time.
How does an increase in income affect the market of bus rides (inferior good)?
a. The demand curve for bus rides to shift to the right b. The demand curve for bus rides to shift to the left c. The supply curve for bus rides to shift to the right d. The supply curve for bus rides to shift to the left
A common misconception about supply is that
a. supply depends on many other variables. b. price is a major determinant of quantity. c. it is a fixed amount. d. quantity cannot be determined in advance. e. All of the above are correct.
Macroeconomics:
A. is concerned with the expansion of a small business into a large corporation. B. is narrower in scope than microeconomics. C. analyzes mergers and acquisitions between firms. D. is concerned with the expansion and contraction of the overall economy.