The lion’s share of purchases and transactions in the U.S. economy are made with coins and paper money.
Answer the following statement true (T) or false (F)
False
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If once vaccinated, a person cannot catch a cold or give a cold to someone else, the marginal social benefit resulting from consumption of the vaccine:
A. equals the marginal social cost of producing the vaccine in a competitive equilibrium. B. equals the marginal benefit received by consumers of the vaccine in a competitive equilibrium. C. exceeds the marginal benefit received by consumers of the vaccine. D. is less than the marginal benefit received by consumers of the vaccine.
Which of the following is a shortcoming of GDP?
A. GDP measures used goods and services. B. GDP includes changes in inventories. C. GDP includes the value of net exports. D. GDP does not make an allowance for leisure time.
Why do small differences in the rate of economic growth produce large differences in the size of the economy over time? Illustrate with an example
Please provide the best answer for the statement.
The business cycle depicts:
A. fluctuations in the general price level. B. the phases a business goes through from when it first opens to when it finally closes. C. the evolution of technology over time. D. short-run fluctuations in output and employment.