Author Question: Which of the following actions would increase the consumption spending component of the gross ... (Read 38 times)

Cooldude101 · **on:** Jun 30, 2018

Which of the following actions would increase the consumption spending component of the gross domestic product (GDP)?
a. Ann cooking dinner for Tim instead of going out
b. Ann and Tim buying a used microwave oven
c. Ann and Tim buying vegetables to prepare soup at home
d. Tim buying Ann a dress
e. Tim and Ann painting the garage themselves

Question 2

A technological advance that increases the productivity of teachers can be expected to have what effects on the equilibrium labor market for teachers?
a. Wages will rise, and quantity of labor will fall.
b. Wages will rise, and quantity of labor will rise.
c. Wages will fall, and quantity of labor will fall.
d. Wages will fall, and quantity of labor will rise.
e. Wages and quantity of labor will remain the same.