A dairy buys $50,000 worth of milk and spend $5,000 on cartons and utilities. It sells the cartons of milk to a grocery store for $60,000 that then sells all of the cartons to consumers for $65,000 . How much do these actions add to GDP?
a. $55,000
b. $65,000
c. $120,000
d. None of the above are correct.
b
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_________ is the investment that individuals make in education, training, and health care that raise their productive capacity.
A. Capital market B. Human capital C. Human engineering D. Private good production
The theory of _____ states that the _____ adjusts to bring money supply and money demand into balance
Fill in the blank(s) with correct word
Refer to the graph above. If aggregate supply shifts from AS 1 to AS 2, then the price level will:
Increase and real domestic output will increase Decrease and real domestic output will increase Increase and real domestic output will decrease Decrease and real domestic output will decrease
You currently sell the same product to both students and faculty members, and are able to prevent transfer from one group to the other. Your current prices, quantities sold, and the absolute values of the slopes of the demand curves are as follows: 
If your marginal cost is $1 and you are interested in maximizing your revenues, how would you adjust your prices?
A. Increase prices for both groups. B. Decrease prices for both groups. C. Increase student price and decrease faculty price. D. Decrease student price and increase faculty price.