Which of the following best exemplifies the relationship between a capital good and a consumer good or service?
a. A smartphone and an earplug
b. A brand new Dell computer and printer
c. A Caterpillar earth-moving front loader and its operator
d. A commercial baking oven and loaves of bread
d. A commercial baking oven and loaves of bread
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A successful trademark is one that becomes a generic name for a product, for example, "Kleenex" has become a generic term for tissues
Indicate whether the statement is true or false
A situation in which output decreases while prices increase is often referred to as:
A. inflation. B. negative economic growth. C. a recession. D. stagflation.
As disposable income increases, consumption:
A. decreases. B. may either increase or decrease depending on the wealth effect. C. increases. D. may either increase or decrease depending on the mpc.
In which of the following decades did the Phillips curve break down for the U.S.?
A) 1940s B) 1950s C) 1960s D) none of the above