Use the following table to answer the next question. Year123456Price Index10095105125125120If output increases by 8% from year 5 to year 6, then in that period ________.
A. real GDP will rise faster than nominal GDP
B. real GDP will decrease
C. real GDP will rise slower than nominal GDP
D. nominal GDP will decrease
Answer: A
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Indicate whether the statement is true or false
The accountants hired by the Brookside Racquet Club have determined total fixed cost to be $75,000 . total variable cost to be $130,000 . and total revenue to be $145,000 . Because of this information, in the short run, the Brookside Racquet Club should
a. shut down. b. exit the industry. c. stay open because shutting down would be more expensive. d. stay open because the firm is making an economic profit.
Researchers use cost-of-illness studies for all of the following except to:
a. compare two or more treatment options when the medical outcome is identical. b. increase public awareness of the cost of treating certain diseases. c. compare the relative efficiency of treating various conditions. d. study the burden of a disease. e. determine the low-cost option to treat a disease.
Which of the following is most likely to prevent a poor country from developing?
What will be an ideal response?