Relative to the household? survey, which of the following is a strength of the establishment? survey?
What will be an ideal response?
The establishment survey is determined by actual? payrolls, rather than by the unverified answers of the household survey.
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The total volume of business sales in our economy is several times larger than GDP because ________.
A. GDP does not take taxes into account B. GDP grossly understates the value of our annual output C. GDP excludes intermediate transactions D. Total sales are in money terms and GDP is always stated in real terms
If a consumer is maximizing utility, she will purchase quantities of output to the point where the total utility per dollar spent on consumption is equal across all goods
a. True b. False Indicate whether the statement is true or false
Which of the following is always TRUE for a perfectly competitive firm?
A. P = d = AVC B. P = d = MR C. AVC = ATC = P D. MC = MR = AVC
If the consumption function is C = 25 + 0.9y and income increases by $100, then consumer spending will increase by
A) $10. B) $25. C) $90. D) $115.