Which of the following is included as investment in GDP?
i. cars produced during the year but unsold at the end of the year
ii. new capital equipment produced and purchased during the year
iii. purchases of a company's stocks and bonds
A) iii only B) i only C) ii only D) i, ii, and iii E) i and ii
E
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Based on the data in the table above, ice cream and cake are ________ goods
A) inferior B) normal C) substitute D) complementary E) Both answers B and D are correct.
According to the above figure, if steel mills ignore the cost of pollution, the equilibrium quantity of steel will most likely be
A) Q1. B) Q2. C) Q2 - Q1. D) none of the above.
If the government were to reduce its spending, it would be enacting:
A. contractionary fiscal policy. B. expansionary fiscal policy. C. a budgetary crisis intervention. D. expansionary budgetary policy.
An increase in the equilibrium price and the equilibrium quantity would be caused by an increase in supply
a. True b. False Indicate whether the statement is true or false