Refer to Table 10-2. Using the table above, what is the approximate growth rate of real GDP from 2015 to 2016?
A) -2% B) -1% C) 1% D) 2%
B
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The decline in U.S. housing prices starting in 2007:
A. had essentially no impact on the rest of the U.S. economy. B. led to a sharp increase in consumer spending on other good and services. C. was followed by a large increase in employment. D. prompted many to sell their houses, causing house prices to fall further.
Using the data in the above table, when the firm increases its output from 4 to 9 units, the marginal cost of a unit is
A) $4.00 a unit. B) $5.00 a unit. C) $6.00 a unit. D) $7.00 a unit.
If it costs Vijay $150 to design 5 Web sites and $175 to design 6 Web sites, then $175 is the marginal cost of producing the 6th Web site
Indicate whether the statement is true or false
The willingness to pay of buyers' in a market:
A. explains why the demand curve is bowed-out. B. is represented by the supply curve. C. explains why the demand curve is bowed-in. D. is represented by the demand curve.