The 'WHAT goods and services does the US produce' question can best be answered using data about which of the following?
A. Productivity.
B. The distribution of GDP among different income quintiles.
C. Per capita GDP.
D. The distribution of output in markets, specifically among manufacturing, services, and agricultural sectors.
Answer: D
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When the market for gasoline in Motorland is in equilibrium, the deadweight loss is
A) $37,500 per month. B) $150,000 per month. C) $75,000 per month. D) zero.
Refer to Table 10-2. Using the table above, what is the approximate growth rate of real GDP from 2014 to 2015?
A) 1% B) 2% C) 3% D) 4%
The high unemployment of 2008-2010 caused a substantial decrease in inflation which created fears of deflation
a. True b. False Indicate whether the statement is true or false
The type of currency in circulation in the modern U.S. economy is almost entirely
a. commodity money. b. metallic money. c. fiat money. d. silver certificates.