In the short run, an increase in real GDP will
a. increase unit costs and increase the price level
b. increase unit costs and decrease the price level
c. decrease unit costs and decrease the price level
d. decrease unit costs and increase the price level
e. have no effect on unit costs or the price level
A
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Firms are ________ with an economic profit of zero, they will ________ in the industry because they ________ be better off in another industry
A) satisfied, stay, won't B) unsatisfied, leave, will C) satisfied, leave, will D) unsatisfied, stay, won't
Among non-Hispanic whites, blacks, and Hispanics, the group with the highest poverty rate is ______.
Fill in the blank(s) with the appropriate word(s).
In a Vickrey auction, a bidder's strategy:
A. requires the bidder to understand game theory to bid properly. B. is to bid just below the next highest bidder. C. is to bid what he or she would be willing to pay. D. is to bid just slightly more than the next bidder.
Gross domestic product (GDP) includes:
A. intermediate as well as final goods. B. foreign goods as well as domestically produced goods. C. used goods sold in the current time period. D. only final goods and services.