The highest rate of U.S. growth was recorded in which of the following periods?
A) 1948-73
B) 1967-83
C) 1974-95
D) 1996-2008
A
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Peg's Manicure Manor did 4,000 sets of nails in 2015 and 4,500 sets of nails in 2016. The price of a set of nails was $20 in 2015 and $22 in 2016. If 2015 is the base year, Peg's contribution to real GDP in 2015 was ________ and in 2016 was ________.
A. $80,000; $88,000 B. $80,000; $90,000 C. $88,000; $90,000 D. $80,000; $99,000
Refer to the scenario above. Which of the following will happen in equilibrium if the car dealer has a reputation of trustworthiness?
A) You will trust him and he will cooperate. B) You will trust him and he will defect. C) You will not trust him. D) You will earn positive consumer surplus.
It is illegal for a business to price discriminate when selling goods to other businesses unless Both A & B are true
a. Price discounts are cost-justified b. Discounts are offered to meet competitors' price c. Either A or B is true d.
If the market mechanism is efficient, the marginal cost accurately measures the opportunity cost of a good or service
a. True b. False Indicate whether the statement is true or false