GDP and real GDP are ways to measure
A. economic output.
B. inflation.
C. market equilibrium.
D. disinflation.
Answer: A
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If the government imposes an effective ________, output decreases and ________ increases
A) price support; consumer surplus B) price floor; consumer surplus C) price support; total revenue D) price floor; marginal benefit to consumers E) price ceiling; efficiency
Which round of GATT first addressed subsidies?
What will be an ideal response?
A given change in either someone's income or net taxes would have a greater effect on their consumption spending the greater their MPC
a. True b. False Indicate whether the statement is true or false
Explain the economic effects of farm programs on the European Union and in the United States on world trade
What will be an ideal response?