Real per capital GDP in the United States is:
A. over three times what it was a century ago.
B. over seven times what it was a century ago.
C. over 30 times what it was a century ago.
D. about the same as it was a century ago.
B. over seven times what it was a century ago.
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The short run is the time period during which a firm has at least one input constraint
Indicate whether the statement is true or false
Suppose that for a particular firm the only variable input into the production process is labor and that output equals zero when no workers are hired. In addition, suppose that marginal cost of the third worker hired is $40, and the average total cost when three workers are hired is $50 . What is the total cost of production when three workers are hired?
a. $50 b. $90 c. $120 d. $150
Users of commodities are:
A. likely to take the short position in a futures contract. B. usually not participants in futures contracts. C. buyers of futures. D. speculators preferring to get the large returns which result from large risk.
One of the most widely followed stock indexes in the United States is the S&P 500. This index represents
A) the stock prices of the 500 most valuable firms worldwide. B) the stock prices of more than 4,000 U.S. firms. C) the stock prices of 500 large U.S. firms. D) the stock prices of 30 large U.S. corporations.