Goods and services of value to households are
A. outputs in the production process.
B. both inputs and outputs in the production process.
C. inputs in the production process.
D. unrelated to the production process.
Answer: A
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Investors in the London Company (which was later re-formed as the Virginia Company)
a. earned substantial profits on their investment. b. earned modest profits on their investments. c. broke even, with revenues just covering the principal. d. earned substantial losses on their investment.
International trade allows countries to:
a. produce outside their PPF. b. produce inside their PPF. c. consume inside their PPF. d. consume outside their PPF.
Spending on new capital goods, new homes, and the addition of unsold goods to company inventories is included in:
A. service spending. B. government purchases. C. investment spending. D. consumption expenditures.
Refer to Figure 1-6. Calculate the area of the trapezoid X
A) $361 B) $450 C) $1,020 D) $1,140