If all of our GDP were distributed equally across the United States, each individual would receive:
A.) Their current income divided by the U.S. population.
B.) The market value of final goods and services produced in the U.S. per year.
C.) The value of total world output divided by the population.
D.) The market value of final goods and services produced in the U.S. per year divided by the population.
D.) The market value of final goods and services produced in the U.S. per year divided by the population.
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To maximize its profit, in the short run a perfectly competitive firm decides
A) what price to charge for its product. B) what quantity of output to produce. C) whether to exit the market. D) whether to increase the size of its plant. E) how much advertising it should undertake.
In the 1980s, both the U.S. government budget and U.S. trade deficits increased
a. True b. False Indicate whether the statement is true or false
Each of the following companies was split up as a result of antitrust prosecution EXCEPT
A. AT&T. B. the Standard Oil Trust. C. the American Tobacco Trust. D. U.S. Steel.
Refer to Table 10.1. The marginal product of the fourth unit of labor is:
A. 40. B. 50. C. 52.5. D. 210.