An example of intangible capital is
A. a flower garden.
B. a trained apprenticeship program.
C. a vacation house.
D. a book.
Answer: B
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In events leading to the collapse of the housing bubble, inflated home values created a:
A. wealthier economy, which caused economic growth. B. false sense of wealth, which increased aggregate demand. C. false sense of wealth, which spurred economic growth to decrease. D. wealthier economy, which caused inflation.
Suppose that Angelo and Sonia each win $500 in a charity raffle. Angelo spends his winnings on a new ipad. Sonia saves her winnings. Which of the following is correct?
a. Both Angelo's and Sonia's behavior suggest that they base their purchasing decisions on transitory income. b. Angelo's behavior suggests that he bases his purchasing decisions on transitory income rather than permanent income. Sonia's behavior suggest that she bases her purchasing decisions on permanent income rather than transitory income. c. Angelo's behavior suggests that he bases his purchasing decisions on permanent income rather than transitory income. Sonia's behavior suggests that she bases her purchasing decisions on transitory income rather than permanent income. d. Both Angelo's and Sonia's behavior suggest that they base their purchasing decisions on permanent income.
Refer to the above diagram. Cost-push inflation can be illustrated by a:
A. shift in the aggregate supply curve from AS2 to AS3. B. shift in the aggregate supply curve from AS1 to AS3. C. shift in the aggregate supply curve from AS1 to AS2. D. movement along the aggregate demand curve from e1 to e3.
If you regularly spend $100 a month on gasoline and the price of gasoline doubles, your purchasing power has
A) increased. B) remained constant. C) became stable. D) decreased.