Recently, the government made adjustments to how GDP is calculated that included placing software purchases into the category of
A) intermediate goods because software is not a final good.
B) inventory and now software purchases are not directly counted as part of GDP.
C) investment and now directly counts software purchases as part of GDP.
D) net exports of goods and services because most software is written abroad.
E) net operating surplus.
C
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Suppose the nation of Arcadia produces only two goods, teapots and surfboards. If Arcadia produces only teapots, it can make 80 per day. If Arcadia produces only surfboards, it can make 30 per day
What is the opportunity cost of 1 teapot in Arcadia? A) 3/8 of a surfboard B) 8/3 surfboards C) 30 surfboards D) 80 surfboards
In a graph, a line has a negative slope if
A) the line is vertical. B) the line is horizontal. C) the line rises from right to left. D) the line rises from left to right.
If you win money in a casino you may be more likely to spend that money than your hard-earned cash. This is called:
a. compartmentalizing b. self control c. rule of thumb d. anchoring
If a country's international reserves are increasing, then its exchange rate is ________ and there is a balance-of-payments ________.
A. overvalued; surplus B. undervalued; deficit C. overvalued; deficit D. undervalued; surplus