Home Depot sells new and used doors to contractors who build new homes. Home Depot also sells new and used doors to homeowners. Which of the following would be counted in GDP?
A) the sale of a new door to TapKon construction for installation into a new home
B) the sale of a used door to a homeowner
C) the sale of a new door to homeowner
D) the sale of a used door to TapKon construction for installation into a new home
C
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For an economy starting at full employment real GDP, a decrease in autonomous expenditure results in a(n)
A. inflationary output gap. B. increase in full-employment output. C. decrease in full-employment output. D. recessionary output gap.
What is an economic variable? Give an example of an economic variable
What will be an ideal response?
The effect on the aggregate demand curve of which of the following is most similar to the effect of a decrease in the barriers to efficient functioning of financial markets?
A) a decrease in autonomous investment B) a decrease in the inflation rate C) an autonomous loosening of monetary policy D) a decrease in expected inflation E) a negative price shock
The demand curve for a perfectly competitive firm is
A) elastic at relatively high prices and inelastic at relatively low prices. B) perfectly elastic. C) perfectly inelastic. D) unitary elastic.