The price index that measures the changes in prices of ALL goods and services produced by the economy is the
A. PPI.
B. Gross Domestic Product (GDP) deflator.
C. Personal Consumption Expenditure Index.
D. CPI.
Answer: B
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A country's actual output ________ its potential output.
A. can only temporarily exceed B. is always be approximately equal to C. can never fall below D. can never exceed
A firm produced 376 units with 10 workers. When the eleventh worker was hired, the output increased to 398 units. The marginal product of the eleventh worker is:
A) 22 units. B) 37.6 units. C) 36.18 units. D) 398 units.
The Articles of Confederation (1777–1781) did all of the following except
(a) Tax the colonists to finance the central government (b) Provide a formal means by which the colonists communicated and interacted (c) Granted significant power to the colonial states (d) Required negotiations for funding the War between the leaders of the American Revolution and each colonial state
Patent laws establish property rights for new goods
a. for 10 years b. for 20 years c. for 5 years d. until a better product comes along e. until the firm goes out of business