Refer to the table. Equilibrium GDP is:
A. $40.
B. $70.
C. $100.
D. $130.
B. $70.
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The label "discouraged worker" refers to a change of status from ________
A) employed to actively seeking employment B) unemployed to employed C) unemployed to not in the labor force D) not in the labor force to unemployed
In long-run equilibrium a perfectly competitive firm will operate where the price is
A) greater than MR but equal to MC and minimum ATC. B) greater than MR and MC, but equal to minimum ATC. C) greater than MC and minimum ATC, but equal to MR. D) equal to MR, MC and minimum to ATC.
All the following are examples of accounting costs, except
a. Interest payments on borrowed funds b. Costs paid to suppliers for product ingredients c. Cost of equity d. Depreciation expenses related to investments in buildings and equipment