The purchase of a new scanner by a computer graphics business is included in which expenditure category of GDP?
a. consumption
b. investment
c. government purchases
d. net exports
b
You might also like to view...
The payroll tax system is a proportional tax for all income earners.
Answer the following statement true (T) or false (F)
If water is essential for life, while diamonds are not, then why is water cheaper than diamonds?
A. Because the marginal utility of water is high but the total utility is low. B. Because the total utility generated by diamonds is larger than the total utility generated by water. C. Because most people do not understand their total need for water. D. Because water is abundant, the marginal utility of water is low, and price reflects marginal utility, not total utility.
A decrease in the demand for incandescent light bulbs due to changes in consumer tastes, accompanied by a decrease in the supply of incandescent light bulbs as a result of government restrictions, will result in
A) a decrease in the equilibrium quantity of incandescent light bulbs; the equilibrium price may increase or decrease. B) a decrease in the equilibrium quantity of incandescent light bulbs and no change in the equilibrium price. C) a decrease in the equilibrium price of incandescent light bulbs and no change in the equilibrium quantity. D) a decrease in the equilibrium price of incandescent light bulbs; the equilibrium quantity may increase or decrease.
Which of the following items is included in the calculation of GDP?
a. Purchase of 100 shares of General Motors stock. b. Purchase of a used car. c. The value of a homemaker's services. d. Sale of Gulf War military surplus. e. None of these would be included.