The largest component of private investment expenditure is
a. inventories
b. the capital stock
c. new home construction
d. purchases of newly-produced plant and equipment
e. government investment in private industries
D
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Since the 1940s, the demand for labor has expanded equally for both skilled and unskilled workers
Indicate whether the statement is true or false
One consequence of the second welfare theorem is the fact that the allocation of goods achieved through competitive markets:
A. is always Pareto efficient. B. can be extremely inequitable. C. satisfies the conditions of egalitarianism. D. is free of market failures.
GATT is an acronym (stands for)
a. Good and Total Trade b. General Agreement on Tariffs and Trade c. Greater Agreements Toward Trade d. Gold and Trade Transactions e. Greater Area Trade Transactions
If hot dogs are an inferior good, an increase in income will result in
A, an increase in the quantity demanded for hot dogs B. an increase in the demand for hot dogs C. a decrease in the quantity demanded for hot dogs D. a decrease in the demand for hot dogs E. no change in the quantity demanded for hot dogs