What did automobiles and government subsidized highways increase the net benefits of?
(a) Investing privately in highway development
(b) Rapid expansion of new cities and towns and revitalization
in old cities and towns
(c) Development of suburban and exurban areas
(d) All of the above
(c)
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In the liquidity trap a small change in interest rates produces ________ change in the quantity of money demanded
A) a small B) no C) a proportionate D) a very large
If the resources within a nation are not being fully or efficiently utilized, it means:
a. that the nation is operating at a point inside its production possibilities curve. b. that the nation is operating at a point outside its production possibilities curve. c. that the nation is operating at a point along its production possibilities curve. d. that the nation is probably technologically advanced. e. the government of that nation should seize ownership of the resources in order to attain the necessary efficiencies.
A new computer will generate $1,000 in net revenue for a firm during its first year, $500 during its second year, $250 during its third year, and nothing thereafter. If the interest rate is 10 percent (0.10) per year, what is the present value of the computer to the firm? (The first payment will be received at the end of this year.)
a. $1,590.91 b. $1,510.14 c. $1,750.00 d. $1,446.28 e. $1,661.16
Double counting in the national income accounts will be avoided if GDP is computed by totaling all:
A. sales. B. sales of final output. C. production costs. D. sales of final output and intermediate goods.