Consumption expenditures include all of the following EXCEPT
A. purchasing shares of company stock.
B. going to a movie.
C. buying a pizza.
D. having your house cleaned by a cleaning maid.
Answer: A
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If the nominal interest rate on a one-year loan was 7%, the actual inflation rate over the year was 3% and the expected inflation rate over the year was 2.5%, then the expected real interest rate equals
A) 4.5%. B) 4.0%. C) 3.75%. D) 3.5%.
In principle, prorationing could lead to more efficient extraction of oil from the ground
Indicate whether the statement is true or false
What was not a significant cause of the Great Depression?
a. Bank failures b. Stock market crash c. Government fiscal and monetary policy d. Large increase in imports that took jobs away from American workers
In the long run, firms in many industries often experience falling average total costs as a result of
a. gains through trade. b. increasing marginal returns. c. economies of scale. d. lower fixed costs.