The most volatile component of GDP over the business cycle is
a. consumption.
b. net exports.
c. investment.
d. government purchases.
C
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What will be an ideal response?
When you use money to purchase groceries, money is functioning as a store of value.
Answer the following statement true (T) or false (F)
Equilibrium quantity is _____.
A television station reports that the price of orange juice has declined but the quantity traded has increased. This situation could be caused by a(n):
A. Increased preference for orange juice among buyers B. Significant decrease in the harvest of oranges in the nation's orchards C. Improvement in the technology of producing orange juice D. Decrease in income, and orange juice is a normal good