Which of the following purchases would most likely be classified as an investment?
a. sun block used to prevent sunburn
b. a paper hat used for a birthday celebration
c. a robot used to make computers
d. chocolate chip cookies used for a lunch
c. a robot used to make computers
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A good will have a more inelastic demand, the
a. greater the availability of close substitutes. b. broader the definition of the market. c. longer the period of time. d. more it is regarded as a luxury.
In response to an unanticipated tightening of monetary policy, output ________ at first, then ________ after about four months.
A. rises; returns most of the way to its original value B. falls; returns most of the way to its original value C. remains roughly unchanged; rises significantly D. remains roughly unchanged; falls significantly
A decrease in the price of inputs will cause the supply curve for a product to shift to the right
Indicate whether the statement is true or false
The HPAE focused their education spending on the university level to better develop high technology workers
Indicate whether the statement is true or false