When calculating GDP, the Bureau of Economic Analysis releases its "advanced estimate" of a quarter's GDP approximately
A) three months before the quarter has ended.
B) one month after the quarter has ended.
C) three months after the quarter has ended.
D) one year after the quarter has ended.
Answer: B
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What branch of economics is concerned with the activities of U.S. agricultural producers?
A) Normative economics B) Positive economics C) Microeconomics D) Macroeconomics
During 2012, a country has consumption expenditures of $3.0 trillion, investment expenditures of $1.5 trillion, government expenditure of $1.5 trillion, exports of $1.0 trillion, and imports of $1.5 trillion
Aggregate expenditure for the country is A) $5.5 trillion. B) $6.5 trillion. C) $6.0 trillion. D) $8.5 trillion. E) $7.0 trillion.
Refer to Figure 9.1. If the market is in equilibrium, total producer surplus is
A) $30. B) $70. C) $400. D) $800. E) $1200.
In the above figure, at the profit-maximizing rate of production for the perfectly competitive firm profit is
A) $100. B) $70. C) $30. D) $130.