If nominal GDP for an economy is $10,444 billion and the price index is 110, then real GDP is $9495.
Answer the following statement true (T) or false (F)
True
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A market in which there is only one seller, and there is no close substitute for the product being sold, is called
A) perfect competition. B) monopolistic competition. C) monopoly. D) oligopoly.
Refer to the information provided in Table 2.2 below to answer the following question(s).Table 2.2?MollyPeteAvatar Design68Tattoo Design32Refer to Table 2.2. For Pete, the opportunity cost of designing one tattoo is
A. 1/4 of an avatar design. B. 2 avatar designs. C. 4 avatar designs. D. 6 avatar designs.
Taxing in labor markets creates more excess burden than taxing in commodity markets.
A. True B. False C. Uncertain
Why do people often hold money instead of bonds?
A. Bonds pay interest. B. Money is less liquid than bonds. C. Money is needed for transactions. D. Of the two, only money is a store of wealth.