Suppose there are five goods in the economy, A-E. The current-year quantity of each is 10A, 20B, 30C, 40D, and 50E. Current-year prices are $1 for each unit of A, $2 for each unit of B, $3 for each unit of C, $4 for each unit of D, and $5 for each unit of E. Base-year prices are $1 for each good. Real GDP in the current year equals
A) $100.
B) $130.
C) $150.
D) $180.
E) $550.
C
Economics
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A period of expansion in the business cycle ends when
A) the business cycle reaches its peak. B) the business cycle reaches its trough. C) real GDP is less than potential GDP. D) real GDP is equal to potential GDP.
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Discuss three ways in which U.S. banks can become involved in international banking
What will be an ideal response?
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If TC = 321 + 55Q - 5Q2, then average total cost at Q = 10 is:
a. 10.2 b. 102 c. 37.1 d. 371 e. 321
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