Gross domestic product (GDP) is
a. the total value of all goods and services produced for the marketplace during a given period, within a nation's borders
b. the total value of all final goods and services produced for the marketplace during a given period, by a nation's citizens and businesses, both within a nation's borders and abroad
c. the total value of all final goods and services produced for the marketplace during a given period, within a nation's borders
d. the total value of all goods and services produced for the marketplace during a given period, by a nation's citizens and businesses
e. the total value of all goods, services and inputs produced for the marketplace during a given period, within a nation's borders
C
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The equation of exchange can be written as
A) MsV = PY. B) MsP = VY. C) MsY = VP. D) None of the above are correct.
________ behavioral assumption about humans was that people usually act in a rational, self-interested way
A) Adam Smith's B) Janet Yellen's C) Karl Marx's D) Thomas Malthus's
Suppose that your college offers you two payment plans for your last two years of college. You may either pay tuition of $20,000 per year at the beginning of each of the next two years, or pay just $38,000 before the start of freshman year
What would the interest rate have to be for you to be indifferent between these two deals? Explain.
Which of the following is true in a perfectly competitive market?
a. The sellers can partially influence the price level in the market. b. All firms have identical costs. c. Entry or exit of new sellers into the market is restricted. d. Buyers and sellers have incomplete information about the product and the market.