People who come to fear that their wealth is going to be confiscated will acquire a relatively greater incentive to invest in
A) agricultural land.
B) human capital.
C) machinery and physical equipment.
D) urban real estate.
B
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An increase in government expenditure on goods and services
A) increases aggregate demand. B) increases the aggregate quantity demanded. C) decreases the aggregate quantity demanded. D) decreases aggregate demand.
What was the approximate value of the U.S. current account balance in 2011?
A) +$10 billion B) +$79 billion C) -$380 billion D) -$475 billion
On hot summer days, electricity-generating capacity is sometimes stretched to the limit. At these times, electric companies may ask people to voluntarily cut back on their use of electricity. On these days, electricity is
a. excludable, but nonrival in consumption. b. not excludable, but rival in consumption. c. excludable and rival in consumption. d. not excludable and nonrival in consumption.
Suppose that over the last year the price of copper increased from $1.70 a pound to $1.79 per pound. Over the same time a measure of the overall price level increased from 300 to 309 . The price of copper increased by
a. less than inflation, and this means it became relatively less scarce. b. less than inflation, and this means it became scarcer. c. more than inflation, and this means it became scarcer. d. more than inflation, but this doesn't necessarily mean that it become scarcer.