Most people who live in market-oriented economies would
a. oppose trying to block better products that lower the cost of services.
b. support trying to block better products that lower the cost of services.
c. oppose trying to block better products that lower the cost of labor.
d. support trying to block better products that lower the cost of labor.
a. oppose trying to block better products that lower the cost of services.
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Gross private domestic investment is a component of which approach to measuring GDP?
A) incomes approach B) expenditure approach C) linking approach D) output approach
A normative economic statement is
a. a statement of fact b. a statement of opinion which advocates a particular position c. not acceptable in the economics profession d. the only acceptable manner to present economic information e. a statement based upon government-supplied information
A graph with a positive slope indicates that the variables depicted on the axes move in the same directions.
Answer the following statement true (T) or false (F)
An increase in the real interest rate will increase the
a. current market value of assets yielding income in the future. b. size of the inflationary premium. c. cost of current consumption goods relative to future consumption. d. net present value of $100 to be received one year from now.