Goods used to produce other goods are known as
a. transitional goods
b. durable goods
c. nondurable goods
d. services
e. intermediate goods
E
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Assume that labor and capital are complements in production and that the wage declines. Which of the following statements best describes the adjustment in the use of labor?
A) Adjustments in labor use are not influenced by adjustments in capital use. B) The MRPL curve shifts downward in this case. C) More labor is used both because of the reduced wage and increased use of capital. D) Changes in labor use are indeterminate because the reduced wage and reduced use of capital have opposite influences on the use of labor.
Which of the following statements is true?
A) Government purchases is the largest component of GDP. B) Net exports are equal to exports plus imports. C) U.S. imports refer to the physical quantity of foreign-produced goods that are purchased by residents of the United States. D) Government purchases includes the spending on goods and services by all levels of government (federal, state, and local). E) c and d
Under the efficient-market hypothesis, it is advisable to spend at least an hour a day altering your portfolio to take advantage of profit opportunities.
Answer the following statement true (T) or false (F)
Movement along the aggregate demand curve occurs in reaction to ______, ceteris paribus.
a. nonprice-level determinants b. changes in the population c. levels of business confidence d. changes in the general price level