If the quantity of goods and services produced in an economy decreases,
A) it may be possible for nominal GDP to increase.
B) real GDP will certainly increase.
C) nominal GDP will certainly decrease.
D) it may be possible for real GDP to increase.
A
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How does a firm measure its profit?
What will be an ideal response?
The most important barrier to entry is economies of scale
Indicate whether the statement is true or false
The expected real interest rate is equal to
A) the nominal interest rate minus the expected rate of inflation. B) the nominal interest rate plus the expected rate of inflation. C) the nominal interest rate minus the actual rate of inflation. D) the nominal interest rate plus the actual rate of inflation.
For a monopolist, average revenues:
A. are always equal to price. B. equal price only at the profit maximizing quantity. C. are always zero at the profit maximizing quantity. D. are maximized when total revenues are maximized.