A large underground economy results in an ________.
A. understated GDP
B. overstated GDP price index
C. overstated GDP
D. understated GDP price index
Answer: A
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The price elasticity of demand for new cars is 1.2. Hence, a 10 percent price increase will
A) decrease the quantity of new cars demanded by 1.2 percent. B) increase consumer expenditure on new cars by 1.2 percent. C) decrease the quantity of new cars demanded by 12 percent. D) increase consumer expenditure on new cars by 12 percent.
The features of the M-Form of firm organization are
a. divisions have difficulty responding to market changes b. it is difficult to maintain customer relationships c. there is less coordination across the firm's divisions d. evaluating employees is easier because managers typically are similarly trained
Table 9-1 Output Consumption Investment Net Exports 1,000 800 500 100 1,500 1,200 500 100 2,000 1,600 500 100 2,500 2,000 500 100 3,000 2,400 500 100 3,500 2,800 500 100 4,000 3,200 500 100 ? In Table 9-1, inventories will be increasing as long as output is above
A. 1,000 B. 1,500 C. 2,000 D. 3,000
Which of the following items serve as a store of value?
I. cash in your pocket II. the balance in your checking account III. an original Picasso painting IV. a $1,000 corporate bond A) I and II B) I, II, and III C) I, II, and IV D) I, II, III, and IV