GDP measures the total income a society generates
Indicate whether the statement is true or false
TRUE
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What are two ways in which economic growth is generally measured?
What will be an ideal response?
Refer to the scenario above. What is likely to be the impact on Firm A's sales if Firm B decides to sponsor the event while Firm A decides not to sponsor the event?
A) A 5% increase in sales B) A 7% increase in sales C) A 0% increase in sales D) A 2% increase in sales
If good X is a normal good and its price rises, then quantity demanded
a. may or may not fall. b. will always fall. c. will always rise. d. will remain unchanged.
The goal of the consumer price index is to measure changes in the
a. costs of production. b. cost of living. c. relative prices of consumer goods. d. production of consumer goods.