Which of the following is NOT included in aggregate expenditure?
A) government expenditure
B) consumption expenditure
C) net exports
D) taxes
E) investment
D
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Along a perfectly elastic demand curve,
A. the slope is always zero. B. the price elasticity of demand is 1. C. consumer purchases will not respond at all to a change in price. D. All of the responses are correct..
Which of the following does not contribute to differences in interest rates?
a. Different loans are for different periods of time. b. Large loans generate more administrative costs per dollar than smaller loans. c. Different loans are subject to different tax rules. d. Loans to established businesses are evaluated differently from loans to new businesses. e. The longer the period of repayment, the greater the risk of higher-than-expected inflation.
The consumer price index (CPI) _____ inflation because it includes an item in the market basket only after the product becomes _____
a. overstates; unpopular b. overstates; obsolete c. overstates; widely used d. understates; widely used e. understates; obsolete
Advertising for Milk and Beef is usually done by
A) interest groups that represent the whole industry. B) a single firm in the market. C) a small set of firms in a market. D) It is not done because it doesn't pay to advertise homogeneous products.