Which of the following purchases would be counted as a final good in the GDP calculation?
a. A family's purchase of a used car.
b. A speculator's purchase of 100 shares of Apple Computer stock.
c. A deli's purchase of bread for making its sandwiches.
d. A business's purchase of new office equipment.
d
Economics
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A t-shirt maker would be willing to supply 75 t-shirts per day at a price of $18.00 each. At a price of $20.00, the t-shirt maker would be willing to supply 100 t-shirts. Using the midpoint method, the price elasticity of supply for t-shirts is about
a. 0.37, and supply is elastic. b. 0.37, and supply is inelastic. c. 2.71, and supply is elastic. d. 2.71, and supply is inelastic.
Economics
Which of the following would show a good that is relatively inelastic in supply?
a. ES < 1 b. ES = 1 c. ES ? 1 d. ES รท1
Economics