We go from Gross to Net Domestic Product by
A) adding depreciation to GDP.
B) subtracting depreciation from GDP.
C) adding indirect business taxes to GDP.
D) subtracting indirect business taxes from GDP.
B
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Consider a country that produces only two goods: parrots and iguanas. Suppose it is impossible for this country to increase its production of parrots without producing fewer iguanas. In this case, its current output combination is efficient
Indicate whether the statement is true or false
In a one-stage game:
A. at least one participant observes a choice by another participant before making some decision. B. each participant makes all of his choices before observing any choice by any other participant. C. at least one participant makes his choice before observing the choices made by other participants. D. one participant has full information of the other players' choices before making his choice.
Monetary policy is conducted by the U.S. Treasury Department
Indicate whether the statement is true or false
A monopolistically competitive firm earning profits in the short run will find the demand for its product decreasing and becoming more elastic in the long run as new firms move into the industry until
A) the original firm is driven into bankruptcy. B) the firm's demand curve is perfectly elastic. C) the firm exits the market. D) the firm's demand curve is tangent to its average total cost curve.