At optimal output, the firm described in Table 8-1 earns a profit of
A. $1 per unit of output.
B. $2 per unit of output.
C. $1 total.
D. $2 total.
Answer: D
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A consumer expenditure survey reports the following information on entertainment spending: 20082009 PriceQuantityPriceQuantityMovies$75$87Concerts$302$352CDs$167$1510 Using 2008 as the base year, by how much does a "cost of entertainment" index increase between 2008 and 2009?
A. 13.4 percent B. 8.6 percent C. 3.9 percent D. 29.4 percent
The term "twin deficits" refers to
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Which of the following transactions represents the purchase of a final good?
A) Apple computer buys computer processors from Intel. B) Your father buys a new John Deere riding lawn mower. C) Starbucks purchases coffee beans. D) Delta buys a new European-made jetliner.
Which of the following expenditures would increase the investment component of U.S. GDP?
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