The payments in return for labor and capital are _____, respectively.
a. ?profit and rent
b. ?rent and wages
c. ?interest and profit
d. ?wages and interest
e. ?profit and wages
wage and interest
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Can a firm's average variable costs be falling if they are less than the firm's marginal costs? Explain
Assume that between 1999 and 2009 nominal GDP increased from $7 trillion to $12 trillion and that the GDP deflator rose from 100 to 150 . Which of the following expresses GDP for 2009 in terms of 1999 prices?
a. $7.5 trillion b. $8.0 trillion c. $9.0 trillion d. $18.0 trillion
Which of the following is a flow concept?
A. Wealth B. Gallons of water in a pool C. Body weight D. Expenditures
If there is an outward shift in U.S. demand for French goods, the result will be
A) a decrease in the dollar price of a euro. B) an inward shift in French demand for U.S. goods. C) a decrease in euros traded. D) an increase in the dollar price of a euro.