4. A measure of the degree to which capital wears out or becomes obsolete during a period is: A) rent. B) production costs. C) deferred expenditure. D) depreciation. 5. Which of the following would not be included in the measurement of GDP? A) federal government payments for Jeeps B) a purchase of California wine by a Canadian firm C) employers' payments for employees' medical insurance D) transactions in the underground economy 6. Aggregate demand is the total value of real GDP that A) all sectors of the economy are willing to purchase at various average price levels, all other things unchanged. B) all sectors of the economy are willing to sell at various average price levels, all other things unchanged. C) consumers are willing to purchase at various average price levels, all other things unchanged. D) consumers are willing to purchase at various national income levels, all other things unchanged.
|
4. |
A measure of the degree to which capital wears out or becomes obsolete during a period is: |
|
|
|
A) |
rent. |
|
|
B) |
production costs. |
|
|
C) |
deferred expenditure. |
|
|
D) |
|
|
5. |
Which of the following would not be included in the measurement of GDP? |
|
|
|
A) |
federal government payments for Jeeps |
|
|
B) |
a purchase of California wine by a Canadian firm |
|
|
C) |
employers' payments for employees' medical insurance |
|
|
D) |
transactions in the underground economy |
|
6. |
Aggregate demand is the total value of real GDP that |
|
|
|
A) |
all sectors of the economy are willing to purchase at various average |
|
|
B) |
all sectors of the economy are willing to sell at various average price levels, all other things unchanged. |
|
|
C) |
consumers are willing to purchase at various average price levels, all other things unchanged. |
|
|
D) |
consumers are willing to purchase at various |
Step by step
Solved in 4 steps
