Using the expenditure approach, "gross private domestic investment" is the sum of:
a. newly produced capital goods.
b. fixed investment.
c. changes in business inventories.
d. all of these.
d
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If the price of TVs produced by XYZ-TV Company falls from $1,000 to $750 per TV set, then the:
A. supply of labor to the XYZ-TV Company increases. B. demand for labor by the XYZ-TV Company increases. C. supply of labor to the XYZ-TV Company decreases. D. demand for labor by the XYZ-TV Company decreases.
As the number of firms increases in a market, the differences between the Cournot, Stackelberg, and price-taking market structures
A) decreases. B) increases. C) remains the same. D) cannot be determined.
The marginal product of labor for Acme, Inc is 15. The average product of labor is 25, and the price of labor is $10. Assuming that Acme, Inc is a competitor in its output and input markets, the marginal revenue product of labor:
A) is $10. B) is $150. C) is $250. D) is $375. E) cannot be determined with the information provided.
If the demand curve facing a monopoly was 1 unit at $7, 2 units at $6, 3 units at $5, 4 units at $4, and 5 units at $3, the marginal revenue from selling the third unit of output:
a. is $5. b. is $4. c. is $3. d. is $1.