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
D
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In the figure above, if the quantity is restricted to 2, then the deadweight loss in this market equals
A) b + g. B) c + d. C) e + k. D) h + i.
The inflation rate in Venezuela has increased between 2005 and 2010, rising from 14 percent per year to 31 percent per year. At the same time, the growth rate of real GDP fell from 10 percent per year to -2.6 percent per year
The quantity theory of money A) states that the inflation rate over the period would average 4 percent. B) predicts that the velocity of money will decrease over the period. C) states that the growth rate of money must have increased over the period. D) predicts that nominal GDP will decrease over the period.
Two of the main focuses on development economics focuses on how countries can promote:
A. health and education. B. sound monetary policy and education. C. health and fiscal policy. D. sound monetary and fiscal policy.
The supply curve shows the relationship between:
A. price and quantity supplied. B. production costs and the amount demanded. C. total business revenues and quantity supplied. D. physical inputs of resources and the resulting units of output.