_____ is the primary reason that explains why some nations are richer than the others
a. A democratic government
b. A strong judicial system
c. Access to education
d. Private ownership
e. A stable currency
d
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Which of the following transactions would enter directly into the determination of GDP?
a. a bicycle you purchased at a garage sale b. the retirement check your uncle received for spending 25 years in the Marine Corps c. the DVD player you purchased from Best Buy d. the five shares of Microsoft stock your grandparents gave you for making an A in economics
According to the classical view, if consumer demand slowed down,
A. Investment and government demand would increase, and the economy would return to its long-term growth trend. B. Wages would increase, and the economy would return to its long-term growth trend. C. Prices would increase, and the economy would return to its long-term growth trend. D. Prices would decrease, and the economy would return to its long-term growth trend.