As of the year 2000, manufacturing, mining, and construction accounted for what percentage of total U.S. output?
A. 28 percent.
B. 15 percent.
C. 19 percent.
D. None of the choices are correct.
Answer: C
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The total production within an economy is measured as
A) Total Domestic Output. B) Total Annual Output. C) Annual Production Value. D) Gross Domestic Product. E) Gross Home Product.
In the United States, spending on residential construction
A) rose rapidly in the period just before the recession of 2007-2009, declined dramatically during the recession, and recovered rapidly thereafter. B) rose rapidly in the period just before the recession of 2007-2009, declined dramatically during the recession, and recovered only slowly thereafter. C) rose rapidly in the period just before the recession of 2007-2009, declined dramatically during the recession, and continued to decline slowly thereafter. D) rose slowly in the period just before the recession of 2007-2009, declined slowly during the recession, and recovered slowly thereafter.
In which statement(s) are "supply" and "quantity supplied" used correctly? (I) "An increase in the price of toasters will increase the quantity supplied of toasters." (II) "A technological advance that lowers the cost of producing toasters will increase the supply of toasters."
a. in both statements I and II b. in statement I only c. in statement II only d. in neither statements I nor II
Profit can be earned by buying _____________ and selling ____________________
A) at one price; at the same price B) low; high C) high: low D) none of the above