Which of the following would be counted as investment in the national income accounts?
a. the purchase of a newly issued stock
b. the purchase of a newly built apartment house
c. the purchase of a newly minted coin
d. the payment of tuition at a private college
b
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The countries that dominated world manufacturing in the 1700s were overtaken by 1900 and are now considered struggling nations. Economic structuralists say this happened because Europe developed its economy by
a. establishing capital markets for technologies and industries. b. creating political systems that encouraged innovation and investment. c. conquering and impoverishing the rest of the world. d. letting commerce flourish rather than controlling it.
The opportunity cost doctrine suggests that which of the following are not costs of government educational programs? a. The wages of teachers
b. The foregone earnings of participants. c. Stipends paid to participants. d. Materials used by students.