You are a collector of baseball cards. In 2018, you purchase a Madison Baumgartner baseball card printed in 2012. This baseball card
A. is included in the 2012 GDP.
B. is in the 2012 and 2018 GDP.
C. excluded from the 2012 GDP.
D. included in the 2018 GDP.
Answer: B
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Which of the following would shift the investment demand curve rightward?
a. Firms are operating their plants at less than full capacity. b. A decrease in the interest rate. c. A decrease in business taxes. d. All of the above. e. None of the above.
Capital income in the U.S. equals approximately ________ of GDP.
A. one third B. one half C. two thirds D. two fifths
When a second firm enters a monopolist's market,
A. the market price will rise. B. the quantity produced by the first firm will decrease. C. the first firm's profits increase. D. All of these will occur.
Liquidity preference refers to
A) Keynes' name for the demand for money. B) the "random walk" behavior of consumption spending. C) monetarists explanations for stagflation. D) real business cycle theorists' explanations for stagflation. E) the controversy sparked by the Lucas critique.