Refer to the above figure. The top two arrows of the figure refer to the product markets. The bottom arrows refer to the factor markets. Which arrow represents the total monetary value of all goods and services?
A) Arrow A B) Arrow B C) Arrow C D) Arrow D
A
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Economic growth can be defined as a percentage increase in
A) per capita real GDP. B) nominal GDP. C) consumption by households. D) real GDP.
Explain why gasoline stations across the street from each other with large signs displaying their prices may "legally" jointly set monopoly prices
What will be an ideal response?
Which determinant of demand changes in the personal computer market as more individuals become interested in "surfing the Internet"?
A. Number of buyers. B. Expectations. C. Cost of factors of production. D. Income.
In 2018, expected inflation exceeded inflation. In 2019, inflation exceeded expected inflation. Therefore the real interest rate was ________ than the expected real interest rate in 2018 and the real interest rate was ________ than the expected real interest rate in 2019.
A. less; greater B. greater; greater C. greater; less D. less; less