Suppose that Year 1 is the base year. What is the growth rate of GDP?
A) 35%
B) 55%
C) 70%
D) 110%
B
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The GDP price index can be interpreted as
A) (nominal GDP - real GDP) ÷ 100. B) (real GDP ÷ nominal GDP) × 100. C) (real GDP - nominal GDP) ÷ 100. D) (nominal GDP + real GDP) ÷ 100. E) (nominal GDP ÷ real GDP) × 100.
The table above lists the market shares of the twenty makers of personal computers. The four-firm concentration equals
A) 5 percent. B) 20 percent. C) 25 percent. D) 100 percent.
An oligopoly:
a. and monopolistically competitive market produce less and charge higher prices than if their markets were perfectly competitive. b. is characterized by mutual interdependence of pricing decisions. c. may be characterized by a kinked demand curve. d. all of these.
When we identify public policies toward externalities, we contrast command-and-control policies with what other type of policies?