________ is the change in market value of capital over a given period
A) Accounting depreciation
B) Implicit rental rate
C) Economic depreciation
D) Accounting implicit rental cost
C
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In the case of leisure, the substitution effect implies that:
A) when the price of leisure increases, people will work more. B) when the price of leisure increases, people will work less and relax more. C) if people tend to work more and relax less, the price of leisure increases. D) if people tend to work more and relax less, the price of leisure decreases.
A recent economics graduate is looking for a position as an industrial economist. During the period this individual starts looking for a job and ultimately finds one, he may be classified as:
a. seasonally unemployed. b. frictionally unemployed. c. cyclically unemployed. d. structurally unemployed. e. occasionally unemployed.
In the economy of Talikastan in 2015, consumption was two-thirds of GDP, government purchases were $1000 more than investment, investment was one-ninth of GDP, and the value of exports exceeded the value of imports by $500 . What was Talikastan's GDP in 2015?
a. $1688 b. $9000 c. $13,500 d. $15,000
The sale of each iPhone in the U.S. counts as an:
A. import, because they are assembled in Mexico. B. export, because they are produced in the U.S. C. export, because they are assembled in China. D. import, because they are assembled in China.