Approaches to measuring GDP include all of the following except the
A) cost approach.
B) product approach.
C) income approach.
D) expenditure approach.
A
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
In what ways do economists and policymakers who believe that the federal government should have a larger role in the health care system criticize the Patient Protection and Affordable Care Act (ACA)?
What will be an ideal response?
What shape does a production possibilities frontier take if it displays increasing opportunity costs? What shape does a production possibilities frontier take if it displays constant opportunity costs? Which shape is most common in production
situations?
The central institution through which a laissez-faire system answers the basic economic questions is the
A. tribal council. B. market. C. government. D. central planning body.