The economic way of thinking assumes a politician ignores
A) the costs of her actions.
B) the benefits of her actions.
C) her own interests after taking the oath of office.
D) all of the above.
E) none of the above.
E
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In an economy, the value of inventories was $75 billion in 2009 and $63 billion in 2010. In calculating total investment for 2010, national income accountants would ________.
A. increase it by $138 billion B. increase it by $63 billion C. decrease it by $12 billion D. decrease it by $75 billion
The opportunity cost of producing one more unit of a good is calculated by dividing the
A) total quantity of the other good by the total quantity of the good whose opportunity cost we're calculating. B) decrease in the quantity of the other good by the increase in the quantity of the good whose opportunity cost we're calculating. C) price of the good whose opportunity cost we are calculating by the number of units of the other good that are forgone. D) total quantity of that good by the total quantity of other good. E) increase in the quantity of that good by the decrease in the quantity of other good.
Which of the following is an example of foreign direct investment in China?
A) Chinese Shenzen Airlines company buys a small U.S. midwest airline company, Air Chicago. B) The bank of China purchases U.S. Treasury bonds. C) A U.S. foreign exchange speculator buys $200,000 worth of the Chinese currency the yuan. D) The U.S. company Walmart buys a warehouse in Shanghai. E) U.S. auto entrepreneur Elon Musk buys stock in Alibaba Group Holding Limited of Hangzhou, China.
If the value of a price index was 125 for 2005 and 75 for 1982, and GDP was 2500 in 2005 compared to 600 in 1982, the value of real 2005 GDP in terms of 1982 prices is
a. 1500. b. 1000. c. 2500. d. 360.