Is this the correct definition of GDP when measured by production? "GDP for a nation's economy is all goods and services produced domestically in a year."
a. Yes
b. No
Answer: b. No
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Students who leave school in the spring and look for work are one source of ________
A) structural unemployment B) cyclical unemployment C) frictional unemployment D) business-cycle fluctuations
Which of the following statements is true?
A) Right-handed people typically earn more than left-handed people. B) People who drink alcohol typically earn more than people who do not drink. C) People who played sports in high school typically earn less than people who did not play sports. D) People regarded as beautiful typically earn no more than people who are ordinary looking.
One difference between public goods and near public goods is the degree of rivalry
Indicate whether the statement is true or false
Managers at Concord Construction have determined that the firm’s revenues do not cover the firm’s average variable costs. Which term describes the situation at Concord Construction?
a. The shutdown point b. Allocative inefficiency c. Diseconomies of scale d. The price taking point