___________ is usually measured by the annual percent change in real output of goods and services per capita
Fill in the blank(s) with the appropriate word(s).
Answer : Economic growth
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Refer to Table 12-1. If the market price of each camera case is $8, what is the firm's total revenue?
A) $2,400 B) $3,200 C) $4,000 D) $4,800
Consider an industry that is made up of six firms with the following market shares: Firm A - 50%, Firm B - 20%, Firms C and D - 10% each, and Firms E and F - 5% each
What is the value of the Herfindahl-Hirschman Index and how will the industry be categorized? A) 2,500; mildly concentrated B) 3,150; highly concentrated C) 8,100; highly concentrated D) 10,000; effectively competitive
A tax multiplier equal to ?4.30 would imply that a $100 tax increase would lead to a:
a. $430 decline in real GDP. b. $430 increase in real GDP. c. 4.3 percent increase in real GDP. d. 4.3 percent decrease in real GDP. e. 43 percent decrease in real GDP.
A monopolistically competitive firm is currently charging a price of $10 and producing 12,000 units/month. It faces monthly fixed costs of $15,000 and has an average variable cost of $6/unit. In the long run, we would expect:
a. The firm to go out of business b. The price will rise and output will fall c. The price will fall and output will fall d. The price will fall and output will rise