If a measure of real GDP could include the value of leisure time, measured real GDP would increase
Indicate whether the statement is true or false
TRUE
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Little Percy lives in two periods. His earnings in the present are 150; in the future he will earn 10% more than today. The interest rate is 5 percent. If his consumption today is 160, what is the most he can consume in the future?
What will be an ideal response?
Which form of business organization accounts for the largest proportion of sales in the United States?
A) the corporation B) the partnership C) the proprietorship D) the subchapter S partner-based proprietorship.
Price level changes have their greatest effect on consumers'
a. income. b. wealth. c. debt. d. expectations.
Patents grant their owners
a. a property right to new products and production processes that they have developed. b. the exclusive right to use a newly developed process or product forever. c. the right to use resources owned by their competitors. d. an exemption from laws that prohibit price discrimination.