The sum of the components of incomes is called
A) gross domestic product at factor cost.
B) net domestic product at market prices.
C) gross domestic product at market prices.
D) GNP.
E) net domestic product at factor cost.
E
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Wages and salaries are examples of:
A. consumption. B. labor income. C. profits. D. capital income.
In the fooling model, AD/SAS equilibria to the right of LAS are unstable because ________ nominal wages shift ________
A) falling, AD downward B) falling, SAS downward C) rising, AD upward D) rising, SAS upward
How does an economic model attempt to explain puzzling behavior? What features would be desirable in an economic model?
What will be an ideal response?
Which of the following shows how decreasing staff could improve outcomes in the short run?
a. Every time Edie wanted to try something on at Irina’s clothing store there was no fitting room attendant to assist her. b. The service at Morton’s coffee shop was impeccable—as one person took an order and rang it up, another filled it. c. Dani sometimes shopped at Paige’s book store, but sometimes she chose to place an order on the store’s website. d. Abby walked out of Davidson’s because different salespeople kept waiting near her and interrupting her as she browsed.