Real GDP measures the:
A. Market value of goods and services produced.
B. Standard of living.
C. Actual quantity of goods and services produced.
D. Level of productivity.
C. Actual quantity of goods and services produced.
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Label each entry in the list as dealing with a microeconomic topic or a macroeconomic topic. Explain your answer
What will be an ideal response?
We can represent the entry of new firms into a monopolistically competitive market by shifting the existing firms':
a. demand curves downward. b. demand curves upward. c. demand curves more inelastic. d. cost curves upward. e. cost curves downward.
Retail is
A) downstream. B) upstream. C) is reversed extraction. D) impossible to outsource.
The substantial increase in household debt relative to income since the mid 1980s meant that in 2008 many households
a. had little savings or other reserve assets for use to deal with unexpected expenditures. b. could safely afford to purchase larger homes because housing is always a good investment. c. could spend everything they earned because their interest obligations on outstanding credit were low. d. would be able to easily adjust their current spending if their monthly payments on adjustable rate mortgages rose.