In the expenditure approach to measuring GDP, we add the values of all
a. intermediate goods in addition to all final goods purchased
b. goods and services purchased by each type of final user
c. goods and services purchased in the United States
d. goods and services purchased by intermediate and final users
e. goods and services purchased by the private sector.
B
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The fact that a person with a forceful and persuasive personality but not necessarily the greatest amount of knowledge and judgment can exercise a disproportionate amount of influence is a major drawback of
A) the Delphi method of forecasting. B) the market research method. C) opinion polling. D) the jury of executive opinion approach.
The recessionary GDP gap will differ from the AD shortfall when the
A. Multiplier effect lowers spending. B. Multiplier effect raises spending. C. Aggregate supply curve slopes upward. D. Budget is balanced.
The unemployment rate in the United States at the peak of the Great Depression was ________ percent.
A. 10 B. 25 C. 20 D. 5
Refer to the information provided in Table 13.1 below to answer the question(s) that follow. Table 13.1Price ($)Quantity4.002,0003.502,4003.002,8002.503,2002.003,6001.504,0001.004,400Refer to Table 13.1. If a monopoly faces the demand schedule given in the table and has a constant marginal and average cost of $1 per unit of providing the product, what is the level of output that would maximize its profits?
A. 2,000 B. 2,400 C. 2,800 D. 3,200