In practice, a corporation is usually controlled by its
a. competitors
b. managers
c. stockholders
d. economists
e. bondholders
B
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Prices of final goods and services in Eduland have increased by 23% between Year 1 and Year 2. If the GDP deflator of Eduland in Year 1 was 100, the GDP deflator of Eduland in Year 2 is ________
A) 50 B) 112 C) 103 D) 123
Over the years, U.S. government spending has ________
A) increased but government revenue has decreased B) decreased but government revenue has increased C) decreased and government revenue has also decreased D) increased and government revenue has also increased
In a perfectly competitive market, the price in the long run:
A) will always be more than the minimum average total cost of the industry. B) will always be less than the minimum average total cost of the industry. C) will always equal the minimum average total cost of the industry. D) will always equal the average fixed cost of the industry.
If real salaries increase but nominal salaries do not, this means that:
A. the purchasing power of money has decreased. B. prices have not changed. C. prices have risen. D. prices have fallen.