Which of the following expenditures would be counted as consumption in GDP accounts?
a. Mary buys a new home computer to check her e-mail and play computer games.
b. Mark buys a new computer for his medical economic consulting business
c. Leslie, an EPA scientist, buys a new computer for her lab at work.
d. Juan leases a new computer for his graphic design company.
a
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In part, the increase in the labor force participation rate in the United States over the last 50 years can be attributed to
A) unsuccessful job seekers becoming discouraged workers. B) technological change in the home increasing the time available for paid employment. C) recessionary periods followed by longer expansionary periods. D) early retirement by men in the labor force. E) the large increase in the men's labor force participation rate overcoming the large decrease in the women's labor force participation rate.
A newspaper headline asserts: "Rising demand pulls up copper prices." The headline
A) is claiming demand determines price (rather than price determining demand). B) is claiming more copper would be demanded at higher prices. C) is claiming prices will fluctuate indefinitely. D) is guilty of all three errors mentioned above. E) makes perfectly good sense from the standpoint of economic theory.