Calculate the percentage change in prices from 2007 to 2009.
A. 200%
B. 100%
C. 175%
D. 150%.
Answer: B. 100%
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Aggregation is the process of
A) calculating real GDP based on nominal GDP and the price index. B) summing individual economic variables to obtain economywide totals. C) forecasting the components of GDP. D) predicting when recessions will occur.
Explain what causes the three types of unemployment. What advice for finding a job would be appropriate for someone in each type of unemployment?
What will be an ideal response?
The above figure shows a graph of the market for pizzas in a large town. No pizzas will be demanded unless price is less than
A) $0. B) $5. C) $12. D) $14.
If variable cost at each output level doubles,
a. ATC doubles b. AFC doubles c. MC remains unchanged d. MC doubles e. MC less than doubles