Which of the following expenditures would be included in GDP for this year?
a. The purchase of a new car.
b. The purchase of a new tire by General Motors for a new car.
c. The purchase of a used car.
d. All of these would be included.
a
Economics
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Which of the following is NOT similar between monopolistic competition and perfect competition?
A) Many firms compete in the market. B) It's easy to enter the market. C) The firms have downward sloping demand curves. D) The firms might incur economic losses in the short run. E) In the long run, the firms earn zero economic profit.
Economics
Autonomous spending in a closed economy equals which of the following?
A) c0 + I + G - c1T B) C + I + G C) Z D) c0 + I + G + c1T
Economics