Since 1950, the standard of living in the United States has:
A. decreased when measured by both total output and output per person.
B. increased when measured by both total output and output per person.
C. increased when measured by output per person, but decreased when measured by total output.
D. decreased when measured by output per person, but increased when measured by total output.
Answer: B
You might also like to view...
Refer to Figure 1A.2. If this consumer rents zero DVDs, how many movie tickets will she purchase?
A) 0 B) 5 C) 10 D) 15
Lori plans to buy a convertible this weekend. Her two favorite cars are the BMW, which would give her 160,000 utils of satisfaction, and the Mitsubishi Eclipse Spyder, which would give her only 124,000 utils of satisfaction. The BMW that she wants sells for $37,220, while the Mitsubishi sells for $28,200 . She can afford either car
a. Which car will she buy in order to maximize her utility? b. To what price will her second choice have to fall to get her to make her first choice?
Which of the following would not be included in the measurement of GDP?
A) a bill from a car mechanic B) wages of a card dealer working in a Las Vegas casino C) commissions of a stockbroker D) the increased value of shares of stock E) c and d
If a Cournot duopolist announced that it will double its output
A) it becomes the leader B) the other firm does not view the announcement as credible C) the other firm will shut down D) the other firm will double output also