National output and national income are essentially the same because
A) every purchase implies a sale.
B) every cost implies a benefit.
C) every profit implies a loss.
D) every gain implies a sacrifice.
A
You might also like to view...
The efforts of nations to influence exchange rates are known as
A) open market operations. B) establishing terms of trade. C) foreign exchange market intervention. D) rate discrimination.
In perfect competition, if firms enter the market in the long run
A) total supply will increase causing market price to increase. B) total supply will decrease causing market price to decrease. C) total supply will decrease causing market price to increase. D) total supply will increase causing market price to decrease.
In the Eurozone, labor market integration (including labor mobility) between member nations is:
A) far ahead of the United States. B) on par with the United States. C) less than in the United States. D) structured differently because in the Eurozone workers have better benefits.
A market served by only one firm is called a(n):
A. perfectly competitive market. B. monopoly. C. oligopoly. D. Any of these could be correct.