Another way to say “real output of goods and services per capita” is ______.
a. output of tangible goods and services per person
b. real gross domestic product per capita
c. output of goods and services per year
d. real percentage change in economic growth
b. real gross domestic product per capita
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A legal claim against a firm that usually entitles the owner of the claim to receive a fixed annual coupon payment, plus a lump-sum payment at some future date, is known as
A) a bond. B) a share of common stock. C) a share of preferred stock. D) a reinvestment coupon.
The share of GDP going to federal taxes
a. has been about 16 to 20 percent for the past 40 years. b. has been about 35 percent for the past 40 years. c. was about 40 percent until the early 1980s and has dropped greatly since then. d. has risen steadily in the past 40 years to about 35 percent.
In the past, when the United States enjoyed a continuing trade surplus, wages in the United States
a. were much lower than wages in countries that imported U.S. products. b. were much higher than wages in countries that imported U.S. products. c. were roughly the same as wages in countries that imported U.S. products. d. fell throughout that period, enabling the continuing trade surplus. e. rose throughout that period, ending the trade surplus.
A firm's opportunity cost of using resources provided by the firm's owners is called:
A. sunk costs. B. fixed costs. C. explicit costs. D. implicit costs.