The Carters' oldest son attends Big State University. He and his parents pay all his fees and tuition. These payments count in GDP as
a. investment.
b. government spending.
c. consumption of services.
d. consumption of durable goods.
c
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The government purchases component of GDP includes:
A. purchases of final goods and services. B. payments made to social security recipients. C. interest payments on government debt. D. transfer payments.
What is a price taker? Discuss the assumptions used to obtain the perfectly competitive model
What will be an ideal response?
The purchase of VCU2 by Tomas Tiergarten, a private resident, causes the nation's:
a. Monetary base to remain the same. b. M2 money supply to fall. c. M2 money multiplier to fall. d. M2 money supply to rise.
A consumer maximizes total utility from a given amount of income when the
A. Marginal utility per dollar obtained from the last unit of each good is the same. B. Total utility obtained from each product is the same. C. Marginal utility of the last unit of each good is the same. D. Amount spent for each product is the same.