If the GDP deflator in 2009 was 150 and the GDP deflator in 2010 was 175, then the inflation rate in 2010 was 25%
a. True
b. False
Indicate whether the statement is true or false
False
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How is the demand for labor derived from the value of marginal product of labor?
What will be an ideal response?
On a balance sheet, short-term debts such as accounts payable are listed as
A) current liabilities. B) stockholder's equity. C) goodwill. D) current assets.
The opportunity cost of an activity is
a. zero if you choose the activity voluntarily b. the amount of money spent on the activity c. the value of the best alternative not chosen d. the sum of benefits from all of the sacrificed alternatives e. the difference between the benefits and the costs of that activity
Which of the following best illustrates perfect competition?
A. wheat farming B. orange growers setting quotas under the Sunkist cooperative C. General Motors advertising campaign for its cars D. Coca-Cola and Pepsi battling for market share