Gross Domestic Product is equal to the market value of all the final goods and services ________ in a given period of time
A) produced and consumed within a country
B) consumed by the citizens of a country
C) consumed within a country
D) produced within a country
E) produced by the citizens of a country
D
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At the natural unemployment rate, there is no
A) frictional unemployment. B) structural unemployment. C) cyclical unemployment. D) unemployment.
The demand curve for land will shift to the right because of a(n): a. decrease in the demand for agricultural produce. b. increase in the emigration of skilled workers
c. increase in the demand for residential apartments. d. decrease in the disposable income of the residents.
Among economic models, the circular-flow diagram is unusual in that it
a. drastically simplifies the real world. b. features more than one type of market. c. features flows of dollars. d. does not involve mathematics.
The concept that a dollar today is worth more than a dollar in the future is called
A. the net productivity of capital. B. economic rent. C. present value. D. the capitalization of assets.