Which of the following do national income accountants consider to be investment?
a) the purchase of an automobile for private, non-business use
b) the purchase of a new house
c) the purchase of corporate bonds
d) the purchase of gold coins
b) the purchase of a new house
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The marketing people at Ben and Jerry's Ice Cream Company believe that if they lower the price of their Cherry Garcia flavor ice cream by 25 percent, the quantity demanded will increase by 5 percent. If they are correct in their belief, then
A) the demand for Cherry Garcia is price elastic. B) their total revenue from Cherry Garcia will increase if they lower the price. C) the demand for Cherry Garcia is income elastic. D) their total revenue from Cherry Garcia will decrease if they lower the price.
Spending VCU4 on real-world goods and services causes the nation's:
a. Monetary base to remain the same. b. M2 money supply to fall. c. M2 money multiplier to fall. d. Monetary base to rise.
Which of the following rates of growth in the money supply is likely to lead to the lowest level of inflation in the economy?
a. 1 percent per year b. 3 percent per year c. 5 percent per year d. 7 percent per year
Of the four countries below, which has the highest degree of income inequality?
a. Germany b. Turkey c. South Africa d. Mexico