Why do few avocados rot, even though in some seasons of the year far more avocados are harvested than in other seasons of the year?
A) Consumers realize it would be inefficient to let avocados rot.
B) Growers vary their advertising efforts with the season of the year.
C) Prices fluctuate sharply as supplies increase or decrease.
D) The taste for avocados varies proportionately to the supply.
C
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Which of the following leads to an increase in real GDP?
A) a decrease in the inflation rate in other countries relative to the inflation rate in the United States B) a decrease in interest rates C) a decrease in government spending D) Households have increasingly pessimistic expectations about future income.
A GDP price chain price index number of 120.0 for a given year indicates that prices in that year are 20 percent higher than prices in the base year
a. True b. False Indicate whether the statement is true or false
If the real U.S. GDP was $10 trillion in 2000 and the U.S. population was 280 million, the per capita real GDP would have been closest to
A. $35,714 per person. B. $28,000 per person. C. $2,800 per person. D. $5,000 per person.
By drawing a demand curve with ________ on the vertical axis and ________ on the horizontal axis, economists assume that the most important determinant of the demand for a good is the ________ of the good
A) quantity; price; quantity B) price; quantity; quantity C) price; quantity; price D) quantity; price; price