Measuring total production by valuing items at their market value allows us to
A) separate the value of different goods with identical prices.
B) separate the value of different goods with different prices.
C) add together the value of different goods that have different prices.
D) add together the value of identical goods that have identical prices.
E) ignore the problem that goods and services differ in how long they last.
C
You might also like to view...
Which of the following measures of fit penalizes a researcher for estimating many coefficients with relatively little data?
A. Adjusted R-square B. R-square C. t-statistic D. Neither the t-statistic, the R-square, nor the adjusted R-square
There are not enough of four goods to satisfy the wants of people. For good A, this is true when the price is $100. This is true for good B at a price of $10, for good C at a price of $1, and for good D at a price of zero. Which situation reflects
scarcity rather than shortage? A) A B) B C) C D) D
You own $10,000 in personal property, $3,000 in Corporation A stocks, $1,000 in U.S. Savings Bonds and have $500 in your checking account. If Corporation A goes bankrupt, the most you could lose is
A) $13,500. B) $11,500. C) $3,000. D) $500.
Refer to the given information. In Singsong the domestic real cost of each chicken:
Answer the question on the basis of the following information about the cost ratios for two products—fish (F) and chicken (C)—in countries Singsong and Harmony. Assume that production occurs under conditions of constant costs and these are the only two nations in the world. Singsong: 1F = 2C Harmony: 1F = 4C A. is ½ fish. B. is 2 fish. C. increases with the level of fish caught. D. decreases with the level of fish caught.