A restaurant purchases a package of sandwich buns for 50 cents. The buns are ________ good in this case, and thus its purchase ________ a transaction that is included in GDP
A) a final, is
B) a final, is not
C) an intermediate, is
D) an intermediate, is not
D
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Refer to Scenario 17.2. An employer who only wants to hire those people who find learning less costly can do so by choosing y* to be anywhere between
A) 15 and 45. B) 15 and 30. C) 13 1/3 and 30. D) 8 and 20. E) none of the above
A tax whose impact varies inversely with the income of the person taxed, that is, poor people pay a higher percent of their income than do rich people, is known as a
a. regressive tax b. progressive tax c. proportional tax d. flat tax e. an excise tax
When reserve requirements are increased, the
a. excess reserves of commercial banks will decrease. b. excess reserves of commercial banks will increase. c. U.S. Treasury will have to borrow additional funds. d. money supply will rise.
A decrease in the price of a product and an increase in the number of buyers in the market affect the demand curve in the same general way
a. True b. False Indicate whether the statement is true or false