Consumption spending is $22 million, planned investment spending is $7 million, actual investment spending is $7 million, government purchases are $9 million, and net export spending is $3 million. the following is true?
What will be an ideal response?
aggregate expenditure is equal to GDP
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Which of the following would be considered leisure?
a. picking strawberries for your own use b. running a 10-mile training session c. studying for a college mathematics class d. changing the oil and oil filter on your car e. weeding your garden
One way DeBeers managed to maintain control over the diamond industry was to:
A. punish consumers who sought to store their wealth in diamonds. B. continue to be the sole diamond producer by buying all existing diamonds. C. create the illusion of no close substitutes through marketing. D. All of these statements are true.
Suppose demand is given by Qxd = 50 ? 4Px + 6Py + Ax, where Px = $4, Py = $2, and Ax = $50. What is the quantity demanded of good x?
A. 46 B. 96 C. 72 D. 50
The Mear Corporation finds that its total spending on machine parts increases after the price of machine parts falls, other things being equal. Which of the following is true about the Mear Corporation's demand for machine parts with the price change?
A. It is perfectly inelastic. B. It is price inelastic. C. It is unit elastic. D. It is price elastic.