If you marry your electrician:
a. Real and nominal GDP rise.
b. Real GDP rises but nominal GDP falls.
c. Real GDP falls, but nominal GDP rises.
d. Real and nominal GDP fall.
e. There is no change in real or nominal GDP.
.D
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Refer to Figure 11-11. What is the amount of excess capacity?
a. Q4 - Q3 units b. Q3 - Q2 units c. Q3 - Q1 units d. Q4 - Q2 units
If a perfectly competitive firm is maximizing its profit and is making an economic profit, which of the following is correct?
i. Price equals marginal revenue. ii. Marginal revenue equals marginal cost. iii. Price is greater than average total cost. A) i only B) i and ii only C) ii and iii only D) i and iii only E) i, ii, and iii
As the U.S. became increasingly industrialized in the 19th century,
a. the poor got poorer. b. the rich got poorer. c. the income of the poor grew more slowly than the income of the rich. d. the income of the poor grew more rapidly than the income of the rich.
If the public decides to hold smaller cash balances, this will cause a(n)
a. increase in interest rates. b. decrease in average paychecks. c. increase in nominal GDP. d. increase in velocity.