Depreciation is all of the following, except:
A. The difference between GDP and NDP
B. The difference between gross investment and net investment
C. The accumulation of capital stock
D. The consumption of fixed capital
C. The accumulation of capital stock
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Individuals who have never been the best at doing anything
A) cannot have a comparative advantage in producing any product. B) can still have a comparative advantage in producing some product. C) perform all tasks at a higher opportunity cost than others. D) must have an absolute advantage in at least ones task.
In the above figure, assume the economy starts out in equilibrium at point d. If the Fed increases the money supply so that the new aggregate demand curve is AD3, then the new short-run equilibrium will be at point
A. a. B. b. C. c. D. i.