The most commonly used measure of an economy's output is:
A. the rate of inflation.
B. the rate of employment.
C. the Dow Jones stock market index
D. gross domestic product.
Answer: D
You might also like to view...
In the market for loanable funds in an open economy, the supply of loanable funds:
A. can come from domestic savers or savers abroad. B. is equal to national savings. C. is equal to private savings. D. is equal to public savings.
Government policies can change the costs and benefits that people face. Those policies have the potential to
a. alter people's behavior. b. alter people's decisions at the margin. c. produce results that policymakers did not intend. d. All of the above are correct.
The opportunity wage is often a better measure of executive pay than
A. MPP because executives do not have an MPP. B. Derived demand because the elasticity of supply for an individual is greater than 1.0. C. MRP because of the difficulty in quantifying executive output. D. Opportunity costs of executive leisure.
Hydraulic fracturing has unleashed a large supply of natural gas in the U.S., leading to large decreases in natural gas prices and therefore fertilizer (an important input in corn production) costs. What is the impact of the hydraulic fracturing revolution on the market for corn markets?
A. A shift to the right of the derived demand curve and an increase in the price of corn. B. A shift to the left of the supply curve and an increase in the price of corn. C. A shift to the left of the derived demand curve and a decrease in the price corn. D. A shift to the right of the supply curve and a decrease in the price of corn.