In November 2009, Marketopia Motors produced an automobile that was delivered to a local dealership in December 2009. The auto was then sold to Sharon Smith for personal use in February of 2010. Following national income accounting practices, this auto would be counted as part of ________.
A. consumption in 2009 and consumption in 2010
B. negative investment in 2009 and consumption in 2010
C. consumption in 2009 and investment in 2010
D. investment in 2009 and negative investment in 2010
Answer: D
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Marginal revenue is: a. the additional cost incurred from producing one more unit of output. b. the addition to total profit from selling one more unit of output
c. the addition to total revenue from selling one more unit of output. d. the addition to total output from hiring one more unit of labor.
If you double input, output more than doubles.
What will be an ideal response?
The main goal of antitrust policy is to
A) encourage firms to produce at the MR = demand level. B) regulate natural monopolies. C) prevent the monopolization of industries. D) prevent the nationalization of industries.
Explain what economists mean by full employment and why this rate of unemployment is not zero
What will be an ideal response?