The difference between a capital good and a consumer good depends on
a. the purpose for which it is used.
b. how it was produced.
c. when it was produced.
d. how quickly it is used up.
a. the purpose for which it is used.
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If, for the United States, exports are $450, imports are $320, net income from foreign investments is -$60, and net transfers from abroad is -$50, then the U.S. current account has a
A) deficit of $430. B) deficit of $110. C) surplus of $20. D) surplus of $130.
Refer to Figure 4-7. The figure above represents the market for iced tea. Assume that this is a competitive market. Which of the following is true?
A) If the price of iced tea is $3, producers will sell 30,000 units of iced tea but this output will be economically inefficient. B) If the price of iced tea is $3, consumers will purchase more than the economically efficient output. C) Both 10,000 and 30,000 are economically inefficient rates of output. D) If the price of iced tea is $3, the output will be economically efficient but there will be a deadweight loss.
"Any additional increases in government spending should be for defense," is ________ statement about ________ policy.
A. positive; monetary B. normative; monetary C. positive; fiscal D. normative; fiscal
Pei Chen has a federal personal income marginal tax rate of 28 percent. His average tax rate
A. is more than 28%. B. is also 28%. C. is less than 28%. D. is zero.