The city of Ann Arbor Michigan buys a police car manufactured in Germany. In the GDP accounts this transaction is included in
a. in government expenditures and exports.
b. government expenditures and imports.
c. exports, but not government expenditures.
d. imports, but not government expenditures.
b
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Which of the following character types best describes the definition above?
a. Round character b. Flat character c. Static character d. Dynamic character.
A firm that shuts down and produces no output incurs a loss equal to its
A) total fixed costs. B) total variable costs. C) marginal costs. D) marginal revenue.
In the above figure, the market price charged by this profit-maximizing, perfectly competitive firm is
A) $5 per unit of output. B) $10 per unit of output. C) $8 per unit of output. D) $14 per unit of output.
Related to the Economics in Practice on p. 509: In Santa Cruz, red feathers from the Scarlet Honeyeater bird were used as currency. Assume the value of one pig was 50 rolls of feathers. In this instance, the feathers would be considered a(n)
A. legal tender. B. unit of account. C. store of value. D. medium of exchange.