Which of the following is not included in GDP but occurs hand-in-hand with improvements in GDP?
a. production
b. services
c. investment
d. environmental protection
d. environmental protection
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According to the endogenous growth model with human capital, what can we say about countries with more efficient schools?
A) They are richer. B) They are richer and grow faster. C) They are richer and grow more slowly. D) They grow faster.
When a firm's demand curve is downward-sloping, its marginal revenue at any positive sales quantity is ______ its price.
A. greater than B. less than C. equal to D. less than or equal to
As price increases, additional suppliers are willing to produce a commodity
a. True b. False Indicate whether the statement is true or false
Monopolistic competition is an
a. inefficient market structure because there is deadweight loss. b. inefficient market structure because price exceeds marginal cost. c. efficient market structure because free entry drives long-run profits to zero. d. Both a and b are correct.