In recent years, people have benefited from greater amounts of leisure time. This trend:
a. has caused GDP to rise.
b. has caused GDP to fall.
c. made GDP fluctuate randomly.
d. is not accounted for in GDP.
d
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Perfect competition and monopolistic competition are similar in that firms in both types of market structure will
A) act as price takers. B) produce a level of output where price equals marginal cost. C) earn zero profit in the long run. D) act as price setters.
The price of the stock divided by the profits per share of stock is known as the
A) price-earnings ratio. B) dividend. C) yield in percent per year. D) number of shares traded during the day.
A complicating factor in international trade is that
a. barter is the basis for trade between countries; money is not used. b. gold is used for payments; there are no international payments without gold. c. many other countries prefer to use the U.S. dollar as currency, causing monetary shortage in the United States. d. trade between countries requires different currencies rather than one currency.
Based on the circular flow model, money flows from households to businesses in:
A. factor markets. B. product markets. C. neither factor nor product markets. D. both factor and product markets.