Geri purchases a newly constructed house built by a private contractor. Her spending on the house is included in GDP as a part of
a. personal consumption expenditures.
b. depreciation.
c. gross private investment.
d. personal saving.
C
Economics
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Other things constant, an increase in resource prices will:
a. increase aggregate demand. b. decrease aggregate demand. c. decrease aggregate supply. d. increase aggregate supply.
Economics
The distribution of income in a market economy is determined by
A. the level of employment and prices of the factors of production. B. the prices of factors of production. C. largely unknown forces, which economists seek to discover. D. decisions of government offices related to distribution.
Economics