The total market value of final goods and services produced in an economy during a one-year period is
A) personal income. B) profit.
C) net national product. D) Gross Domestic Product.
D
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In the highly competitive fast-food restaurant market, brand name restaurants have a strong profit incentive to maintain high sanitary conditions and avoid any negative consequences
Indicate whether the statement is true or false
Which of the following is the correct expression for short-run aggregate supply in the new classical view?
A) YP = Y + a(P - ) B) Y = YP + a(P - ) C) YP = Y + a(P + ) D) Y = YP + a(P + )
Equilibrium GDP will not exist where output exceeds aggregate demand because businesses will notice that
a. their profits are positive. b. inventory stocks are building up. c. inventory stocks are being depleted. d. their level of depreciation is rising.
On January 1, 2015, Anna invested $5,000 at 5 percent interest for one year. The CPI on January 1, 2015 stood at 2.37. On January 1, 2016, the CPI was 2.40. The real rate of interest earned by Anna was ________ percent.
A. 5 B. 9 C. 3.7 D. -5