Which of the following will be included in the calculation of GDP using expenditures to calculate it?
A) Interest earned on money lent out
B) Investments in machineries
C) Dividend earned on shares
D) Value added in the production of a good
Ans: B) Investments in machineries
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Suppose you cash in a Certificate of Deposit (a small time deposit) to acquire the traveler's checks you'll need for your vacation. What happens to M1 and M2?
A) M1 and M2 both increase. B) M1 stays the same and M2 increases. C) M1 increases and M2 decreases. D) M1 increases and M2 stays the same.
In the above figure, the imposition of a $0.25 sales tax on sellers will
A) raise the market price paid by buyers of hotdogs by $0.25. B) lower the market price paid by buyers of hotdogs by $0.25. C) raise the market price paid by buyers of hotdogs by $0.125. D) have no effect on the market price of hot dogs.
National saving is
A) the sum of private saving and government saving. B) reduced by government budget deficits. C) the sum of private saving and the government budget deficit or surplus. D) all of the above.
Demand for cigarettes is
A. relatively elastic. B. relatively inelastic. C. increasing in the U.S. D. greater among wealthier people.