In the definition of GDP, the words "total market value" refer to total
A) dollar value at base prices.
B) dollar value at current prices.
C) subjective value.
D) objective value.
E) a and d
B
You might also like to view...
If the opportunity cost of producing more of one good remains the same as more of that good is produced, then the production method is inefficient
Indicate whether the statement is true or false
What is a firm's short run supply curve?
Suppose that ABC Beer Brewer faces a linear demand curve and that the current price for its beer is set at a point where the price elasticity is 0.6. If ABC Beer Brewer increases the product price, then the total revenue will:
A. increase if at the new price, the elasticity is still lower than 1. B. increase regardless of the size of the price increase. C. decrease regardless of the size of the price increase. D. increase if at the new price, the elasticity is greater than 1.
The U.S. law that declared monopolies illegal is the Sherman Act of 1890.
Answer the following statement true (T) or false (F)