Computation of gross domestic product by the expenditure method would include the purchase of:
A. a school building by the U.S. Department of Education.
B. fertilizer by a farmer.
C. government bonds by a commercial bank.
D. cement by a construction company.
Answer: A
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Any capital resource that lacks clear title ownership is
A) the result of foreign direct investment. B) free capital. C) dead capital. D) capital destruction.
If the demand curve is linear and downward sloping, which of the following statements is not correct?
a. Demand is more elastic on the lower part of the demand curve than on the upper part. b. Different pairs of points on the demand curve can result in different values of the price elasticity of demand. c. Different pairs of points on the demand curve result in identical values of the slope of the demand curve. d. Starting from a point on the upper part of the demand curve, an increase in price leads to a decrease in total revenue.