Which of the following is NOT a component of the incomes approach to GDP?
A) net exports
B) wages and salaries
C) corporate profits
D) proprietors' income
A
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The change in a firm's total cost from producing one more unit of a good or service is the firm's
A) average cost of production. B) explicit cost of production. C) marginal cost of production. D) implicit cost of production.
The Fed has a monopoly on printing paper currency in the United States
Indicate whether the statement is true or false
Which of the following would cause a rightward shift in the AD curve?
A) an increase in the price level B) a decrease in the price level C) an increase in imports D) a decrease in the quantity of money available in the economy E) an increase in government purchases of goods and services
This table shows price and quantity produced for a single firm in a perfectly competitive market.PriceQuantity$1023$1024$1025$1026Given the information in the table shown, what is the average revenue when 24 units are produced?
A. $10 B. $240 C. $24 D. $2.40