Which of the following is NOT a final good?
A) a new computer sold to an NYU student
B) a new car sold to Avis for use in their fleet of rental cars
C) a purse sold to a foreign visitor
D) a hot dog sold to a spectator at a Chicago Bears football game
B
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In a small country, using prices of 2012, GDP in 2012 was $100 and GDP in 2013 was $110. Using prices of 2013, GDP in 2012 was $200 and GDP in 2013 was $210
The country's BEA will calculate ________ percent as the growth in real GDP between those years. A) 7.5 B) 15 C) 10 D) 5 E) None of the above answers is correct.
Refer to Scenario 17.4. If the flood control system were not in place, the insurer would not be willing to insure against the flood for any premium less than
A) $5,000. B) $10,000. C) $100,000. D) $200,000. E) $1,000,000.
An increase in the price level causes government spending to:
A. increase. B. decrease. C. remain unaffected. D. increase in social welfare spending only.
The MC curve slopes upward due to
A. increasing returns to scale. B. diminishing returns. C. constant returns to scale. D. decreasing returns to scale.