Suppose Blu-Ray players cost consumers $300 and Blu-Ray disks cost consumers $30. What contribution does the production of 250 Blu-Ray players and 3,000 Blu-Ray disks make to the GDP?
A. $90,000.
B. $75,000.
C. $125,000.
D. $165,000.
Answer: D
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Steven lives in a big city where there is a shortage of parking. He has a parking spot in his driveway where he parks his car. Which of the following statements is most correct?
A) The opportunity cost of using the spot is zero, because Steven owns the house. B) Steven has a lower opportunity cost of owning a car than his neighbor, who must rent a parking spot. C) The opportunity cost of using the parking spot is the price he could charge someone else for using the spot. D) The opportunity cost depends on how much Steven's mortgage payment is.
A temporary supply shock, such as an increase in oil prices, would
A) shift the IS curve down and to the left and leave the FE line unchanged. B) shift the IS curve down and to the left and shift the FE line to the left. C) shift the IS curve up and to the right, but leave the FE line unchanged. D) have no effect on the IS curve.
Government debt places a burden on future generations if
A) the debt is used to fund the current consumption of its citizens. B) the debt is used to fund the production of investment goods. C) the debt is used to fund schools and highways. D) All of the above are correct.
If the U.S. dollar depreciates, it becomes cheaper for U.S. residents to travel in foreign countries
a. True b. False