Which of the following does not constitute an act of "investment" as economists use the term?
A. An accountant attends a seminar on changes in the federal tax code.
B. A department store increases its inventory of football jerseys before the Super Bowl.
C. The city council authorizes the construction of a new fire station.
D. A retiree buys 50 shares of stock at $10 a share and then sells the stock at a profit for $20 a share.
Answer: D
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Slowdonia's current growth rate of real GDP per person is 2 percent a year. How long will it take to double real GDP per person?
A) half a year B) approximately 10 years C) 28.6 years D) 35 years
Necessities tend to have elastic demands, whereas luxuries tend to have inelastic demands
a. True b. False Indicate whether the statement is true or false
Which of these equations is correct?
A. APC - APS = 1 B. MPC + APS = 1 C. MPC + MPS = 1 D. 1 + MPC = MPS
To have more consumer goods in the future, we must
A) produce more capital goods today. B) lower current income. C) get government involved in the production process. D) stop producing all goods today.