The largest component of GDP as measured by the expenditure approach is:
a. wages and salary earnings.
b. personal consumption.
c. net profits of corporations.
d. gross private investment.
b
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A commitment is a form of strategy
Indicate whether the statement is true or false
The firm's most efficient level of output
A. is OU.
B. is OV.
C. is OW.
D. cannot be found on this graph.
At an output of zero, total cost = ________________.
Fill in the blank(s) with the appropriate word(s).
The demand for computers increases. As a result
A. the wage rate increases in the industry and the quantity supplied of workers increases. B. the wage rate increases in the industry and the quantity demanded of workers falls. C. the quantity demanded of workers increases, the wage rate rises, and the supply of labor increases. D. the demand for workers increases, hiring increases, but wages stay the same since each firm faces a horizontal supply curve of labor.