If you buy a brand new, American-made laptop computer to use for taking notes in your economics class, then it will be classified in GDP accounting as
a. a business inventory
b. a consumption expenditure
c. an investment expenditure
d. a household expenditure
e. a service good
B
Economics
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Suppose the firm's total revenue is $4,000 and its total cost is $1,200 . We know, then, that the firm
a. should produce more to maximize profit b. should lower its price to maximize profit c. should lower average total cost to maximize profit d. should stay where it is because it's maximizing profit e. can't determine what it should do with that incomplete information
Economics
Currencies that are not backed by precious metals of equal value are called:
a. Legal tender. b. "Trouble" – with a capital "T." c. Near money. d. Repurchase agreements. e. Fiat money.
Economics