Seasonal adjustment
A) should never be used.
B) is rarely used.
C) is a common characteristic of macroeconomic time series in wide use.
D) is not used by modern macroeconomists.
C
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Which of the following would not be considered physical capital?
A. A forklift B. A factory C. Fertile soil D. An axe
You paid $25 for your ticket to the football game, only to see your favorite team losing 28-0 at the end of the first quarter. That $25 should now be regarded as a(n) ____ cost that should be ____ in your decision on whether or not to stay at the game.
Fill in the blank(s) with the appropriate word(s)
If Jack refinished his basement himself, the value of his work
A. is included in the next year's Gross Domestic Product (GDP). B. is only included in Gross Domestic Product (GDP) if he uses U.S. made components. C. is included in Gross Domestic Product (GDP). D. is not included in Gross Domestic Product (GDP).
If the price elasticity of supply of tablets is constant and equal to 2.5, a 10 percent increase in price will result in a change in quantity supplied equal to
A) 2.5 percent. B) 25 percent. C) 20 percent. D) -20 percent.