The market value of all final goods and services produced by Canadians regardless of where they're located is
a. Canadian personal income
b. Canadian national income
c. Canadian capital income
d. Canadian gross national product
e. Canadian gross domestic product
D
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A profit-maximizing firm will never hire that quantity of a factor of production for which that factor has an increasing marginal productivity because:
a. it would not be maximizing output. b. it would not be maximizing the productivity of labor. c. it would not be minimizing costs. d. it would not be maximizing profits.
The "New Economy", a period marked by major technological change, low inflation, low unemployment, and rapidly growing productivity characterized
A. the 1920s. B. the 1960s. C. the 1990s. D. All of the decades listed.
When a monopolistically competitive firm is in long-run equilibrium, average total cost is at its minimum.
Answer the following statement true (T) or false (F)
The European Union is the oldest, largest, and most ambitious integration agreement in the world today
Indicate whether the statement is true or false