An economy produces only 1,000,000 computers valued at $2,000 each. Of these, 200,000 are sold to consumers, 300,000 are sold to businesses, 300,000 are sold to the government, and 100,000 are sold abroad. No computers are imported. At the end of the year, the computer manufacturers hold the unsold computers in inventory. What is the value of the investment component of GDP?
A. $0.6 billion
B. $0.3 billion
C. $0.8 billion
D. $0.4 billion
Answer: C
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A. due to technological change. B. due to strikes or lockouts. C. and have given up looking for work. D. because they are between jobs.
When Goodyear increases its production when Michelin reduces its production, Goodyear is playing a
A) negative-sum game. B) cooperative game. C) non-cooperative game. D) reaction function game.
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Answer the following statement true (T) or false (F)
Commodity monies have no intrinsic value.
Answer the following statement true (T) or false (F)