Gross national product is equal to:
a. gross domestic product
b. net national product plus depreciation.
c. national income plus net personal income.
d. none of the above
b
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What are the major sources of risk for the firm?
What will be an ideal response?
According to Say's law
A) supply creates its own demand. B) demand creates supply. C) changes in supply create supply-side inflation. D) changes in demand create demand-side inflation.
The opportunity cost of any decision is the forgone value of the next best alternative that is not chosen
a. True b. False Indicate whether the statement is true or false
If the price of tickets to Disney World increases 10 percent, and as a result, attendance falls by 15 percent, the demand for the tickets is
a. elastic. b. inelastic. c. of unitary elasticity. d. indeterminate.