An automobile is an asset, but it is not liquid because:
A. the owner may still be making payments on the loan.
B. the automobile may not be in good repair.
C. the transactions costs for turning it into money are high.
D. the automobile cannot be sold without a loss in value.
Answer: C
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If real GDP is $13,000 billion and aggregate hours are 270 billion, labor productivity equals
A) $6.50 per hour. B) $45 per hour. C) $48 per hour. D) $650 per hour.
Refer to Figure 28-2. At which point is the unemployment rate equal to the natural rate of unemployment?
A) A B) B C) C D) There is insufficient information on the graph to answer this question.
Consumption expenditures were previously the largest component of GDP, but with the growth of government and government expenditures, this is no longer true
a. True b. False Indicate whether the statement is true or false
The Army Corps of Engineers has been accused of acting on the basis of a so-called “edifice complex.”
Answer the following statement true (T) or false (F)