The purchase of a new house is included in
A) government purchases. B) investment expenditures.
C) net exports. D) consumption expenditures.
B
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The property of money that allows for the settling of debts that mature in the future is
A) store of value. B) liquidity. C) acceptability. D) standard of deferred payment.
All else equal, when oil prices decrease, some economical sources of oil tend to become less economical, and this will ________ proven reserves of oil and ________ the number of years it will take to deplete the stock of oil
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
In a competitive market the demand curve shows the ________ received by consumers and the supply curve shows the ________
A) economic surplus; opportunity cost B) utility; average cost. C) marginal benefit; marginal cost D) net benefit; net cost
All of the following can raise wages of union members EXCEPT
A) increasing the demand for non-union made goods. B) increasing the demand for union-made goods. C) limiting union membership over time. D) increasing the productivity of union workers.