AA Appliances sells refrigerators. In 2015 it added $100,000 to its inventory. $10,000 of this addition was from used refrigerators, and the remaining $90,000 was from their purchases of newly manufactured refrigerators. How much of AA's inventory is included in 2015 GDP?
a. $0
b. $10,000
c. $90,000
d. $100,000
c
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A rent ceiling set below the equilibrium rent
A) ensures the availability of enough low-rent apartments in a city. B) results in all renters and potential renters being better off. C) creates a situation in which the quantity demanded of housing is greater than quantity supplied. D) ensures that landlords earn a reasonable rate of profit on apartments. E) eliminates discrimination by landlords.
Refer to the graph shown. Which of the curves represents a normal yield curve?
A. A B. B C. C D. D
Long-run unemployment in the classical model is considered to be impossible because
A) flexible prices and wages keep workers fully employed. B) the government will intervene to aid the unemployed. C) job placement and training programs are rampant in the United States. D) the labor supply is horizontal.
Based on the table above, the cost of the base period market basket in the base period is
A) $3,300. B) $21.00. C) $3,250. D) $4,650. E) $4,885.