_____ GDP is the value of output measured in constant prices or GDP adjusted for inflation.
A. Nominal
B. Current
C. Real
D. Green
C. Real
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If the government raises income taxes, then the labor
A) supply curve shifts rightward. B) demand curve shifts leftward. C) demand curve shifts rightward. D) supply curve shifts leftward. E) Both answers B and D are correct.
The study of microeconomics and macroeconomics differ in that:
a. microeconomics is concerned with the domestic economy and macroeconomics is concerned only with the international economy. b. microeconomics examines the individual markets of the economy while macroeconomics studies the whole economy. c. microeconomics studies the actions of households and macroeconomics studies the actions of business firms. d. microeconomics examines the whole economy while macroeconomics studies the individual units of the economy.
A low price-earnings ratio usually indicates that people believe that this corporation will have lower than average growth in earnings
Indicate whether the statement is true or false
Explain the difference between productive efficiency and allocative efficiency. How do these efficiencies relate to monopolistic competition?
What will be an ideal response?