In the value-added approach, GDP is the sum of revenue received by all firms in the economy
a. True
b. False
B
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A bank run occurs when:
A) a bank experiences an extraordinarily large volume of withdrawals. B) a bank sells its assets to its own stockholders. C) the central monetary authority regulates the functioning of banks. D) a bank's assets exceeds its liabilities.
Consumer surplus is the area
A) below the demand curve and above the market price. B) below the supply curve and above the market price. C) above the demand curve and below the market price. D) above the supply curve and below the market price. E) below the demand curve and above the supply curve.
Define the quantity supplied of a good or service
What will be an ideal response?
Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher