If an economy maintains a small rate of growth for a long period of time, then the size of the economy:

A. can increase by a large amount.
B. can only increase by a small amount.
C. will stay nearly constant.
D. can never double.


Answer: A

Economics

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The value of all final goods and services produced during a given time period measures a nation's

A) net exports. B) net national product. C) consumer price index. D) gross domestic product.

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Sherry wants to rent an apartment. Although rents are below what she is willing to pay, she cannot find an apartment. Then after a month of searching, she finds an apartment but she has to pay an additional $1,000 to have the locks changed

Sherry has just experienced the effects of ________. A) a rent floor with a black market B) inelastic demand C) a market working efficiently D) a rent ceiling

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Exchange rates will affect imports and exports, and thus affect aggregate ______ in the economy.

a. production b. sales c. supply d. demand

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Refer to Figure 3.1. If one of the graphs represents the total cost of an activity, which other graph best represents the marginal cost of the activity?



A. A

B. B

C. C

D. D

Economics