Real GDP and nominal GDP differ because the real GDP:
a. is adjusted for changes in the volume of intermediate transactions.
b. includes the economic effects of international trade.
c. has been adjusted for changes in the price level.
d. excludes depreciation charges.
Answer: c. has been adjusted for changes in the price level.
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Refer to Excise Subsidy. After the subsidy is granted, producers' surplus equals
The following questions refer to the accompanying diagram which shows the effects of an excise subsidy given to firms. The initial price and quantity are P0 and Q0, respectively. After the subsidy is granted, the equilibrium quantity is Q1, firms receive the price Ps, and consumers pay the price Pd.
a. area A + B + E + H.
b. area E + H + F + I.
c. area B + C + E + H.
d. area H.
Worker mobility and transition aid to workers are two ways to offset some of the impacts of:
A. increasing wage inequality. B. increases in the labor supply. C. the slowdown in productivity growth. D. the slowdown in real-wage growth.
In 2011, the average American earned about $48,000 while the average Nigerian earned about $1,200 . Which of the following statements is likely?
a. The average American purchases more televisions than the average Nigerian. b. The average American has better nutrition and healthcare than the average Nigerian. c. The average American has a longer life expectancy than the average Nigerian. d. All of the above are correct.
Choose three advanced factors that Porter believes are MOST significant for competitive advantage
What will be an ideal response?