Which of the following is an example of imports?
a. Sugar bought from a retail shop
b. Steel bars sold to other countries
c. Clothes bought from another country
d. Apples bought from a farmer
c
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When you chose to buy the second cup of coffee instead of the third bagel, which of the following is necessarily CORRECT?
A) The second coffee will give you higher marginal utility. B) The second coffee is cheaper than the third bagel. C) The marginal utility per dollar from the third bagel is less than the marginal utility per dollar from the second coffee. D) Both answers A and C are correct.
Goods produced that go into inventories are
a. not counted in GDP. b. only counted in GDP when they are ultimately sold. c. counted in GDP even though they are not sold. d. counted if they completely depreciate within the calendar year.