Goods that are produced but not immediately sold
A. count in the GDP as private investment.
B. do not count in the GDP.
C. count in the GDP as a change in private inventories.
D. count in the GDP as intermediate input.
Answer: C
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If the demand curve for a good is unit elastic, then total expenditure will _____ as the price of the good decreases.
A. remain constant B. fall C. rise D. go to zero
When you purchase a new set of spurs you do so in the
A) input market. B) resource market. C) factor market. D) product market.
Non-transactions deposits are different from transactions deposits in that
A) transactions deposits have unlimited check writing privileges while non-transactions deposits do not. B) transactions deposits have limited check writing privileges while non-transactions deposits have unlimited check writing privileges. C) transactions deposits have no check writing privileges while non-transactions deposits do. D) transactions deposits have no check writing privileges while non-transactions deposits have limited check writing privileges.
The idea that expectations can affect the velocity of money is a critical factor in understanding
a. the Keynesian view of the quantity theory of money b. the classical view of the quantity theory of money c. the monetarist view of the quantity theory of money d. why GDP must increase when the price level increases e. why price changes cause inflation