A farmer sells five pounds of pecans to a Smith's Fresh Pecans for $10 . Smith's Fresh Pecans resells three pounds for $4.50 per pound. The remaining pecans are shelled and canned and sold for a total of $8.00 Taking these transactions into account, how much is added to GDP?
a. $22.50
b. $29.50
c. $21.50
d. $31.50
c
Economics
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Refer to Figure 18-1. The depreciation of the dollar is represented as a movement from
A) B to A. B) B to C. C) A to C. D) A to B. E) D to C.
Economics
Average product falls any time
a. marginal product is falling. b. marginal product is rising. c. marginal product is below it. d. total product is rising.
Economics
In a Malthusian world, what would improve the standard of living temporarily?
A) a war B) a new virus C) birth control D) democracy
Economics
If M doubled and V fell by 50%, what would happen to PQ?
What will be an ideal response?
Economics