A major contributor to a country's real rate of economic growth is its real GDP growth relative to its
A) inflation.
B) unemployment rate.
C) money growth.
D) none of the above.
D
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A monopolist faces an average total cost of $6 when it produces 200 units of its product. If it sells the 200 units at $8 per unit, ________
A) the monopolist incurs a loss of $200 B) the monopolist incurs a loss of $400 C) the monopolist makes a profit of $200 D) the monopolist makes a profit of $400
If the amount you owe on your house is less than the price of the house, you have
A) positive equity in your house. B) an adjustable-rate mortgage on your house. C) a reverse mortgage on your house. D) negative equity in your house.
Classical unemployment can be caused by which of the following?
A. Minimum wage laws B. Bargaining by unions C. Efficiency wages D. All these create classical unemployment.
Which is the best summary of this graph?
a. An increase in demand eventually leads to higher equilibrium price and quantity.
b. An increase in demand leads to a shift in the supply curve.
c. A higher equilibrium price and quantity leads to an increase in the quantity supplied.
d. An increase in demand eventually leads to lower equilibrium price and quantity.