Which of the following is an aggregate?
A) the number of shoes in one man's closet
B) the bushels of apples one farmer sells
C) the price of a particular textbook
D) the total production of all goods and services
Answer: D
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A reduction in the rate of population growth
A) always causes an increase in economic growth. B) never causes an increase in economic growth. C) may or may not cause an increase in economic growth. D) will cause a reduction in economic growth if accompanied by an increase in the rate of growth of real GDP.
Give an example, not similar to the text material, where you erroneously took sunk costs into account where it was inappropriate to do so.
What will be an ideal response?
The long-run supply curve for a competitive, decreasing-cost industry is downward sloping.
Answer the following statement true (T) or false (F)
GDP per person
What will be an ideal response?