An example of a final good in national income accounts would be new:
A. chemicals purchased by Green Grass Lawn Care.
B. lawn mowers purchased by Cut-rite Mowers.
C. trees purchased by Wendy Birch's Garden Center.
D. flowers purchased by homeowner Violet Rose.
Answer: D
You might also like to view...
An individual holds $10,000 in a checking account and the price level rises significantly. Hence
A) the individual's real wealth and consumption expenditure decrease. B) the individual's real wealth decreases but real national wealth increases. C) there is no change in the individual's real wealth. D) the individual's real wealth increases.
If Vito decides to work 30 hours instead, his marginal utility loss from having less leisure will be 34.
a. 15
b. 21
c. 27
d. 8
Rational production decisions require an understanding of
a. trade-offs. b. opportunity costs. c. scarcity of resources. d. All of the above are correct.
According to the Keynesian macroeconomic model, consumption is a function of which three variables?
Select one: a. a) Autonomous consumption, intended investment, and the marginal propensity to consume b. b) Autonomous consumption, the marginal propensity to consume, and income c. c) Autonomous consumption, actual investment, and the marginal propensity to consume d. d) The marginal propensity to consume, income, and intended investment