In national income accounting, the consumption category of expenditures includes purchases of:
A. both new and used consumer goods.
B. consumer durable goods and consumer nondurable goods but not services.
C. consumer durable goods, consumer nondurable goods, and services.
D. changes in business inventories.
C. consumer durable goods, consumer nondurable goods, and services.
You might also like to view...
A ________ tax system is one in which tax rates increase with taxable base incomes
A) regressive B) progressive C) proportional D) supplementary
Junkfood Jill spends all of her income on jellybeans and cola. Suppose that Jill's income is $30, the price of a bag of jellybeans is $6, and the price of a bottle of cola is $2
If bags of jellybeans are graphed along the vertical axis and bottles of cola are graphed along the horizontal axis, what is the slope of the budget line? A) 3 B) -3 C) 1/3 D) -1/3
Most economists believe that the theory of rational expectations is
a. more correct in the long run than the short run. b. more correct in the short run than the long run. c. correct in both the long run and short run. d. incorrect because it is based on false logic.
A market:
A. always requires face-to-face contact between buyer and seller. B. entails the exchange of goods but not services. C. is an institution or mechanism that brings together buyers and sellers. D. exhibits upsloping demand and downsloping supply curves.