Both intermediate and final goods are counted as part of GDP.
Answer the following statement true (T) or false (F)
False
Economics
You might also like to view...
Higher prices lead to higher levels of real wealth
Indicate whether the statement is true or false
Economics
At the best affordable point, consumers equate their marginal rates of substitution to
A) their money income. B) their real income. C) relative prices. D) relative quantities.
Economics
A price below the equilibrium price will:
A) result in pressure for price to rise. B) result in a surplus. C) never be the case. D) result in pressure for price to fall.
Economics
When firms add workers and find that the additional workers add less to output than their predecessors did, they are experiencing
A. diminishing returns. B. the division of labor. C. diminishing marginal utility. D. the law of large numbers.
Economics