Economic growth can be defined as a percentage increase in
A) per capita real GDP. B) nominal GDP.
C) consumption by households. D) real GDP.
A
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What are the likely consequences of providing monetary incentives to politicians for good performance?
What will be an ideal response?
Donnie's Donuts incurs $450,000 per year in explicit costs and $200,000 in implicit costs. The bakery earns $800,000 in revenues and has $2 million in net worth. Based on this information, what is the economic profit for Donnie's Donuts?
A) $150,000 B) $350,000 C) $600,000 D) $1.2 million
The channels through which monetary policy affects economic activity are called the ________ of monetary policy
A) transmission mechanisms B) flow mechanisms C) distribution mechanisms D) allocational mechanisms
The conclusion of the median voter model is that_____
a. private sector demands of the median voter influences their demand for public goods b. the median voter is omniscient c. public sector demand will be the demand of the median voter d. decision-making costs will be high if the median voter is rationally ignorant