In a persisting demand-pull inflation,
A) aggregate supply decreases and aggregate demand increases.
B) aggregate demand decreases and aggregate supply decreases.
C) aggregate demand increases and potential GDP decreases.
D) aggregate supply increases and aggregate demand increases.
E) None of the above answers is correct.
A
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Which of the following products are not included in current U.S. GDP?
a. a Washington apple b. a Ford Mustang produced last year and sold this year c. a physical examination at a California health clinic d. All of the above are included in current U.S. GDP.
Invention is
A. the act of discovering new products or new ways of making products. B. the act of putting new ideas into effect. C. the collaboration of land, labor, and capital to bring to market goods and services. D. the act of reducing the number of inputs to increase the amount of output.
Two goods are ______ when an increase (decrease) in the price of one good causes an increase (decrease) in the demand for the other good.
a. tributes b. detriments c. complements d. substitutes
As a firm hires more and more workers:
A) the value of marginal product of the additional workers eventually increases. B) the marginal product of the additional workers remains the same. C) the value of marginal product of the additional workers remains the same. D) the value of marginal product of the additional workers eventually decreases.