GDP is a measure of:
A. domestic production.
B. changes in the general level of prices.
C. material well-being.
D. social welfare.
Answer: A
You might also like to view...
When bad storms slow the check-clearing process, float tends to ________ causing the Fed to initiate defensive open market ________
A) decrease; sales B) decrease; purchases C) increase; sales D) increase; purchases
International trade may make some individuals in a nation better off, while other individuals are made worse off
a. True b. False Indicate whether the statement is true or false
The demand curve facing an oligopoly firm is kinked because
A. It is most likely that competitors will match price hikes as they practice price leadership. B. It is most likely that rivals will match price cuts but not price increases. C. Its competitors will match only price hikes. D. The demand curve that is most inelastic is the most probable situation facing the company.
When a company produces 5,000 units, total costs equal $150,000 and total variable costs equal $75,000. At this level of output, what is that company average fixed cost?
A. $225,000 B. $30 C. $75,000 D. $15