Real gross domestic product is
What will be an ideal response?
nominal GDP valued at base-year prices.
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Refer to the scenario above. What is the probability of getting tails?
A) 25% B) 50% C) 75% D) 100%
An example of a public good is national defense services
Indicate whether the statement is true or false
Due to the recent increase in the price of natural gas, the quantity of coal demanded by electric power generation plants has increased. Based on this information, coal and natural gas are:
A) complements. B) substitutes. C) independent goods. D) none of the above
Suppose Alice is deciding whether or not to go to a New York Giants game. Alice's enjoyment and thus decision, depends upon two uncertain events that are out of her control: whether the Giants win and whether it snows. She will be happiest if the Giants win and it does not snow. The newspaper reports a 35% chance for snow and the Giants record suggests a 40% chance of winning. The probability that the Giants win and that it does not snow is:
A. 75%. B. 5%. C. 26%. D. 35%.