The purchase of stocks and bonds is included in which component of GDP?
a. saving
b. investment
c. consumer spending
d. They are not included in GDP.
d
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________ is a problem that occurs when one concludes that a change in variable X caused a change in variable Y when in actual fact, it is a change in variable Y that caused a change in variable X
A) Reverse causality B) The positive-to-negative relationship C) Nonlinear slope D) The omitted variable
Which of the following is a macroeconomic concern?
A) the unemployment rate in a specific industry B) the national output of the United States C) wage levels in specific industries D) the operation of an individual firm
In order to promote growth through increased quantities of physical capital, governments must promote:
A. a better educational system. B. high rates of saving and investing. C. job training programs. D. funding for basic science.
The real-income effect is typically small because
A. the change in price of one particular item has little effect on total purchasing power. B. income has no relation to consumption. C. real-incomes are always rising. D. price changes tend to balance out over time.