New residential housing is counted in GDP as
a. a durable consumption good.
b. a household durable good.
c. an investment good.
d. an inventory expansion.
e. a long-term durable good.
C
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The above table gives data for the nation of Mouseville. There are no imports into or exports from Mouseville. The equilibrium level of real GDP is
A) $700 billion. B) $500 billion. C) $800 billion. D) $900 billion. E) $100 billion.
Micah buys a used car for $10,000 and spends $200 on a new radio that is made in the U.S. The end result of these two transactions is
a. U.S. consumption purchases increase by $200 and U.S. GDP increases by $200. b. U.S. consumption purchases increase by $200 and U.S. GDP increases by $10,000. c. U.S. consumption purchases increase by $10,000 and U.S. GDP increases by $10,200. d. U.S. consumption purchases increase by $10,200 and U.S. GDP increases by $10,200.
Suppose that a disease that affects people who consume beef has been discovered in the United States. One likely result is:
A. a decrease in demand for beef. B. a decrease in the quantity demanded of beef. C. an increase in buyers' reservation prices for beef. D. a decrease in demand for chicken.
If Cov(z,x) ? 0, then z and x are correlated.?
Answer the following statement true (T) or false (F)