We measure the total volume of output by calculating:
A. physical volume.
B. the size of the labor force.
C. the total market value of output.
D. the rate of inflation.
C. the total market value of output.
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Which of the following generally becomes positive when the value of U.S. exports exceeds the value of U.S. imports?
A) capital and financial account B) the balance of payments account C) current account D) the official settlements account E) the exchange rate
The monetary base:
a. Includes currency in circulation, checking accounts, and near money. b. Includes currency in circulation, checking accounts, and near money. c. Includes currency in circulation, cash in the vaults of financial intermediaries (e.g., banks), and deposits of financial intermediaries at the central bank. d. Is equal to currency in circulation. e. Includes all liquid assets in a nation that can be spent
Other things remaining the same, if a nation's price level rises, the demand to hold money:
a. Falls. b. Rises. c. Does not change.
Explain why perfectly competitive markets achieve allocative efficiency.
What will be an ideal response?