Gross domestic product (GDP) is the __________ of the total output of the economy in a given year.
A. quantity
B. physical volume
C. physical weight
D. dollar value
Answer: D
You might also like to view...
A commercial bank's main goal is to
A) provide loans to its customers. B) maximize the wealth of its stockholders. C) lend money to the Federal Reserve Banks. D) open checking accounts. E) help the government when it needs money.
Perfectly competitive firms are price takers because
a. each firm is too small compared to the market to be able to affect price b. one firm determines price and all other firms accept this price c. firms take the price that government determines d. firms must accept any price consumers offer them e. firms earn high profits by "taking" consumers
When does an insurance contract benefit both the parties?
A utility-maximizing consumer would not consume more of a good if
a. marginal utility increases as more is consumed b. total utility diminishes as more is consumed c. MU/P < 1 d. MU/P < 1 e. MU/P = 1