From 1964 to the present, real GDP
A. stayed roughly the same.
B. more than doubled.
C. almost quadrupled.
D. fell until 1975 then increased fivefold.
C. almost quadrupled.
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The short-run break-even price
A) is the price at which the firm's current liabilities are paid off. B) is the price at which a firm's total revenues equal total costs. C) occurs at the output at which the firm yields a below normal rate of return. D) occurs at the output at which the firm yields a positive economic profit.
Which law was passed to outlaw certain practices not prohibited by the Sherman Antitrust Act?
a. the Clayton Act b. the Smoot-Hawley Act c. the Celler-Kefauver Anti-Merger Act d. the Wheeler-Lea Act e. the Federal Trade Commission Act
A carbon tax is an example of:
A. a Coase theorem solution. B. a Pigovian tax. C. a market failure. D. a Coase tax.
Gross national product is equal to:
a. gross domestic product b. net national product plus depreciation. c. national income plus net personal income. d. none of the above