Most prescriptions are written for
A. over-the-counter drugs.
B. live-extending drugs.
C. live-saving drugs.
D. drugs which simply make life more comfortable or enjoyable.
Answer: D
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Gross domestic product
a. is the sum of all exchanges of goods and services during a period. b. includes financial transactions such as the purchase of stocks or bonds traded during a period. c. is the sum of expenditures for both intermediate and final user goods. d. is the sum of the total spending on all final-user goods and services produced domestically during a period.
If aggregate production in the economy exceeds aggregate purchases
A. unintended inventory investment is positive. B. inventories will be drawn down. C. there is upward pressure on real GDP. D. aggregate purchases will tend to increase until equilibrium is achieved.
A binding price ceiling means that:
A. there is currently a surplus of the relevant product. B. government wants to stop a deflationary spiral. C. government is imposing a legal price that is typically below the equilibrium price. D. government is imposing a legal price that is typically above the equilibrium price.
Theodore can make 6 pizzas in one hour. If Theodore's labor has a diminishing marginal product, what must be true about the number of pizzas that Theodore can make in three hours?
A. It must be greater than 18. B. It must be equal to 18. C. It must be less than 12. D. It must be less than 18.