Gdp
a. is used to monitor the performance of the overall economy but is not the single best measure of a society's economic well-being.
b. is used to monitor the performance of the overall economy and is the single best measure of a society's economic well-being.
c. is not used to monitor the performance of the overall economy but is the single best measure of a society's economic well-being.
d. is not used to monitor the performance of the overall economy and is not the single best measure of a society's economic well-being.
b
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Which of the following is true?
A) Opportunity costs are the same as explicit costs. B) A firm's net income is the same as its accounting profit. C) If a firm's accounting profits are positive, its economic profits must also be positive. D) A firm's accounting profit is equal to its economic profit.
In the Keynesian model, what are the effects (on output, the real interest rate, and the price level) of an adverse productivity (i.e., aggregate supply) shock?
What will be an ideal response?
As hourly wages have risen in the United States in the twentieth century, the number of hours of labor supplied by most wage workers has
A. fallen. B. stayed roughly constant. C. risen. D. generally risen, but has fallen during periods of recession.
The oligopolist ___________ a profit in the long run.
Fill in the blank(s) with the appropriate word(s).