Real GDP is usually measured in
A. tons (for goods) and hours (for services).
B. 2009 dollars.
C. units of output.
D. 1982-1984 dollars.
Answer: B
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Carolyn knows average total cost and average variable cost for a given level of output. Which of the following costs can she not determine given this information?
A) total cost B) average fixed cost C) fixed cost D) variable cost E) Carolyn can determine all of the above costs given the information provided.
The "trickle down" theory is based on the notion of multiplier effects
Indicate whether the statement is true or false
How is a preset price similar to a government-imposed price ceiling or a price floor? How is a preset price different from a government-imposed price ceiling or price floor?
Please provide the best answer for the statement.
All of the following statements about consuming in excess of one's disposable income are true, except:
A. It is possible, and it's called dissaving B. In this case, the values of both saving and the APS are negative C. (APC + APS) will be less than 1 in this situation D. The value of APC will be greater than 1 in this case