Economic growth theory studies how real GDP changes ________, in other words the growth of ________ real GDP
A) on average over long periods, natural
B) on average over long periods, actual
C) from one year to the next, natural
D) from one year to the next, actual
A
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Saving time by driving faster is an example of a ________ of driving faster. Increasing the severity of injuries from a potential accident due to driving faster is a(n) ________ of driving faster
A) nominal cost; real cost B) normative benefit; opportunity cost C) marginal benefit; marginal cost D) marginal cost; nominal cost
If you invest $4,000 in a savings account paying 3 percent interest, how much will your investment be worth in 25 years?
What will be an ideal response?
The type of economic indicator that can best be used for business forecasting is the:
a. leading indicator b. coincident indicator c. lagging indicator d. current business inventory indicator e. optimism/pessimism indicator
Producer surplus is
a. represented on a graph by the area below the demand curve and above the supply curve. b. the amount a seller is paid minus the cost of production. c. also referred to as excess supply. d. All of the above are correct.