Household production is more likely to occur when
a. it requires many specialized resources
b. technology makes it more costly than market production
c. tax avoidance is undesirable
d. less control over the final product is desirable
e. the opportunity cost of household work is relatively small
E
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Gross private domestic investment is all purchases of newly produced business capital goods and buildings
A) minus the change in business inventories. B) plus the change in business inventories plus residential construction. C) plus fixed investment minus inventory investment. D) plus purchases of capital goods produced in previous years to replace any depreciated capital goods.
A central bank can help stop a bank panic by
A) calling in consumer loans. B) raising the required reserve ratio. C) acting as a lender of last resort. D) decreasing income taxes.