Adding depreciation to net national product yields
a. disposable income (DI).
b. personal income (PI).
c. net national product (NNP).
d. gross domestic product (GDP).
d
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The industrial organization economics perspective assumes that the industry _____________ is the most important determinant of long-run profitability
a. Structure b. Conduct c. Performance d. None of the above
For a minimum wage to have any impact on a labor market, it must be set at a level
A. Higher than the equilibrium wage. B. Higher than MPP. C. Consistent with economic growth. D. Higher than MRP.
The so-called "advantage of backwardness" refers to the fact that poor countries in the world today
What will be an ideal response?
Which is necessary to make a trade in a barter economy?
A. Unlimited wants. B. Money. C. A coincidence of wants. D. A medium of exchange.