Suppose that steel produced this year is used to produce a car sold next year. The value of the steel ________ included in GDP this year as ________
A) is; an intermediate good
B) is not; an intermediate good
C) is; an adjustment to inventories
D) is not; an adjustment to inventories
C
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Research shows that increases in educational attainment leads to higher
A. investment in the stock market. B. per capita GDP. C. prices of goods and services. D. productivity growth rates.
Excess capacity and inefficiency result under monopolistic competition
a. True b. False Indicate whether the statement is true or false
In the Keynesian aggregate expenditure model, the equilibrium level of income is achieved when
a. actual saving equals actual investment. b. planned aggregate expenditures equal total output. c. consumption equals income times the marginal propensity to consume. d. the marginal propensity to consume equals planned output.
On the graph for a monopolist’s losses, the monopolist suffers a loss because demand is ______.
a. too high
b. insufficient
c. elastic
d. unit elastic