Which of the following is an example of capital?
A. Money
B. A bulldozer
C. A CD
D. A U.S. Savings bond
B. A bulldozer
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When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline
Assume there is an improvement in the technology used to produce Blu-ray disc players. What could be expected to happen to the equilibrium price and quantity in the market for Blu-ray disc players?
A) Equilibrium price would increase and equilibrium quantity would decrease. B) Equilibrium price and quantity would both decrease. C) Equilibrium price would decrease and equilibrium quantity would increase. D) Equilibrium price and quantity would both increase.
Payment of interest on the U.S. public debt:
A. increases the current domestic standard of living in the United States. B. has no effect on the distribution of income. C. is thought to decrease income inequality. D. is thought to increase income inequality.
Under perfect competition, the firm's supply curve is made up of the
A. points where MC=MR, and they make at least breakeven. B. points where MC=MR, and they make a profit. C. points where MC=MR. D. points where MC=MR above the minimum of AVC.