The GDP deflator is:
A. a measure of the overall change in prices in an economy, using the ratio between real and nominal GDP.
B. one way of summarizing how prices have changed across the entire economy.
C. a weighted average of all of the individual price changes in the economy.
D. All of these statements are correct.
D. All of these statements are correct.
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If neither employers nor consumers are prejudiced,
a. discrimination cannot occur b. all wages will be equal for all workers c. there will be no non-ability-based wage differentials between different groups of workers d. statistical discrimination may still occur e. all equally qualified potential workers have an equal chance of employment and advancement
Heartel was the only telecom service provider in Country A until the government decided to allow foreign telecom companies to provide their services in the country. Due to the impact of the new policy, the supply curve for telecom services from Heartel will: a. become less elastic
b. become more elastic. c. shift to the right. d. shift to the left.
A firm typically achieves its position as a monopolist as a result of
A) a small market and a constant average cost. B) a downward sloping demand for the product. C) barriers to entry. D) the absence of long-run profits in an industry.
Refer to the information provided in Table 25.5 below to answer the question(s) that follow.
Table 25.5
Refer to Table 25.5. Bloomington Bank's total assets are
A. $500. B. $1,200. C. $1,700. D. $3,400.