Using the expenditure approach, "gross private domestic investment" is the sum of:
a. newly produced capital goods.
b. fixed investment.
c. changes in business inventories.
d. all of these.
d
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The Arrow impossibility theorem suggests
A) democracies are doomed to fail in the long-run. B) dictatorships are impossible in the long-run. C) there is no universally applicable decision rule in a majority-rule democracy. D) there is no way to make democracy better than a dictatorship.
If Dalene's marginal benefit from consuming another cookie is greater than the price of the cookie, then
a. Dalene will not purchase any more cookies b. the opportunity cost of the cookie is lower than the price c. Dalene's utility will decrease if she purchases the cookie d. Dalene will increase her total satisfaction by purchasing the additional cookie e. she has purchased too many cookies