Business fixed investment includes purchases of
A. inventories.
B. land and energy.
C. capital equipment and structures.
D. long-term bonds.
Answer: C
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In the above table, if the market is perfectly competitive and unregulated, at the equilibrium output level
A) marginal private cost equals the marginal private benefit. B) marginal private cost is less than the marginal private benefit. C) marginal social cost equals the marginal private benefit. D) marginal social cost is greater than the marginal private benefit.
Which of the following models has as its central idea that workers and firms have rational expectations?
A) the new classical model B) the monetarist model C) the real business cycle model D) the new Keynesian model
Assume that empirical evidence shows a difference in mean earnings between two groups, say, majority and minority workers. What conclusion may be drawn?
a. The group with the lower earnings is less productive. b. The group with the lower earnings is being discriminated against. c. Any of the above statements could, either partially or entirely, explain the difference in the mean earnings. d. The group with the higher earnings has a larger quantity of human capital.
When combined, in present value terms, the underfunded nature of Social Security, Medicare, and State and local pensions adds to
A. $17 trillion. B. $170 trillion. C. $17 million D. $17 billion.