We are told that over the past year actual real GDP has risen by three percent. This fact alone is enough to tell us that
A) the unemployment rate has fallen.
B) the inflation rate has risen.
C) the actual real GDP is above natural real GDP.
D) productivity has grown.
E) none of the above.
E
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There is no cost of using your own savings in your business
a. True b. False Indicate whether the statement is true or false
When the monopoly firm is able to charge a higher price, the amount of ________ also increases, thus magnifying the importing nation's __________.
a. quota rents; losses b. comparative advantage; gains from trade c. profits; welfare d. protection; employment gains
A natural monopoly that is NOT regulated will choose to produce at the
A. point at which marginal revenue equals marginal cost. B. point at which marginal cost is above average total cost. C. point at which the demand curve intersects the long-run average cost curve. D. minimum point of the long-run average cost curve.
The break-even point on the consumption function represents the point where
A) consumption is zero. B) income equals consumption plus spending. C) consumption equals spending. D) consumption equals income.