Borrowed funds are used in financing every component of GDP.
Answer the following statement true (T) or false (F)
True
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If individuals are rational, they should choose actions that yield the:
A. smallest economic surplus. B. largest economic surplus. C. smallest total costs. D. largest total benefits.
GDP is defined as the market value of all final goods and services produced within a country in a given period of time. In spite of this definition, some production is left out of GDP. Explain why some final goods and services are not included
Which of the following exchange rates between the dollar and the peso would a Mexican buyer of American goods most prefer?
A) $0.10 = 1 peso B) $0.08 = 1 peso C) $0.06 = 1 peso D) $0.04 = 1 peso
In the short run, the additional output that results from hiring an additional unit of a variable input is the
A) marginal product. B) average product. C) average variable cost. D) marginal cost.