The true cost of any product purchased by the military is its purchase price
a. True b. False
b
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Perfect competition implies that
A) there are many firms in the market. B) all firms are price takers. C) all firms are producing the same identical product. D) All of the above answers are correct.
According to traditional Keynesian analysis, which has a greater impact on aggregate demand, changing taxes or changing government expenditures? Why?
A measure of GDP in which quantities produced are valued at the prices of a fixed base year is called:
A. current GDP. B. real GDP. C. nominal GDP. D. base GDP.
If a demand curve goes through the point P = $6 and Qd = 400, then
A. $6 is the highest price consumers will pay for 400 units. B. $6 is the lowest price consumers can be charged to induce them to buy 400 units. C. 400 units are the most consumers will buy if price is $6. D. consumers will buy more than 400 if price is $6. E. both a and c