Nominal GDP is GDP
A) using current market values.
B) during a recession.
C) minus depreciation.
D) after adjusting for any price changes.
E) that ignores depreciation.
A
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A New Keynesian firm produces the output at which
A) marginal revenue equals zero. B) marginal cost equals zero. C) its selling price equals marginal cost. D) marginal revenue equals marginal cost.
The effect is exactly the same as the multiplier for intended investment that we discussed in Chapter 9
What will be an ideal response?
Why did Communist governments use a command economic system for many years?
a. as a way to avoid the expense and difficulties of a free market b. as a method of keeping consumers from getting what they wanted c. to limit the costs of production of many goods d. in an attempt to create a society in which everyone was equal
Which of the following is true?
A) All of the above are true. B) The parents of successful entrepreneurs almost always have at least a college education. C) Successful entrepreneurs are good at discovering profitable opportunities that have been overlooked by others. D) Entrepreneurs are under-represented among millionaires.