Which of the following does NOT decrease aggregate demand in the United States?
A) a decrease in GDP in Germany B) a decrease in government spending
C) a decrease in the price of oil D) a decrease in the supply of money
C
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Which of the following transactions would count in GDP?
a. Kerry buys a new sweater to wear this winter. b. Patricia receives a Social Security check. c. Roberto gives his daughter $50 for her birthday. d. Latika sells $1,000 of Google stock. e. Karen buys a new car. f. Amy buys a used car.
When a man with a lawnmower in his trunk stops at Bill's house and offers to mow Bill's yard, economists assume the man
A) expects to be made better off by mowing Bill's yard for a fee. B) is desperate. C) is being exploited. D) both A and B.
Total cost of production refers to the:
A) sum of variable costs and fixed costs. B) product of variable costs and fixed costs. C) difference between variable costs and fixed costs. D) ratio of variable costs to fixed costs.
Expenditures by households on education are included in the consumption component of GDP
a. True b. False Indicate whether the statement is true or false