Assignment 6 (Ch. 9, 10 & 11, LS 23, 24, & 25)

There is a trade-off between the amount of consumption that people can enjoy today and the amount of consumption that they can enjoy in the future because

Typically, a higher saving rate is associated with

Banks and other institutions

Investment as defined by economists differs from investment as defined by the general public in that

economic investment

financial investment

running shoes (intermediate or final)

cotton fibers (intermediate or final)

Watches (intermediate or final)

textbooks (intermediate or final)

coal (intermediate or final)

sunscreen lotion (intermediate or final)

lumber (intermediate or final)

Economic output is equal to economic income because

are clothes consumer durable goods?

a table. durable or nondurable?

Changes in inventories are included as part of investment spending because anything produced by a business that has

Net exports are a country's exports of goods

Nominal GDP is

The GDP price index is

Personal consumption expenditures

a. Technological advance, which to date has played a relatively small role in U.S. economic growth, is destined to play a more important role in the future. t or f

Many public capital goods are complementary to private capital goods t or f

c. Immigration has slowed economic growth in the United States. t or f

The benefits of economic growth, particularly as measured by real GDP per capita, include

Real GDP per capita of the United States is

What does this completed table say about the ability to grow a country's per capita income by simply increasing labor and capital?