Real GDP is important because it is highly correlated with other measures of economic activity.
Select whether the statement is true or false.
A. True
B. False
A. True
This statement is true. Real GDP is important because it is highly correlated with other measures of economic activity.
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Capital payments usually represent ________ of income payments
A) two-third B) three-fourths C) one-fourth D) one-third
If we observe a decrease in the price of a good and a decrease in the amount of the good bought and sold, this could be explained by a(an):
A. increase in the supply of the good. B. increase in the demand for the good. C. decrease in the demand for the good. D. decrease in the supply of the good.
Unemployment will be at its target rate when actual inflation is:
A. 3 percent and expected inflation is 3 percent. B. 0 percent and expected inflation is 3 percent. C. 3 percent and expected inflation is 0 percent. D. 6 percent and expected inflation is 3 percent.
Average variable costs equal
A. total variable costs divided by output. B. output divided by the change in total costs. C. total variable costs divided by marginal costs. D. the change in marginal costs from producing another unit of output.