Per capita GDP measures both market and nonmarket production
Indicate whether the statement is true or false
F
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The cross-price elasticity of demand for generic brand pasta, an inferior good, would be expected to be less than zero
Indicate whether the statement is true or false
Increase in supply mean a new supply (subsidy) line . . .
What will be an ideal response?
A nation's standard of living, as measured by real GDP per person, increases:
A. only if the share of population employed increases. B. if either average labor productivity and/or the share of population employed increase. C. only if both average labor productivity and the share of population employed increase. D. only if average labor productivity increases.
Which of the following will cause an increase in the amount of money that one wishes to hold?
A) an increase in the interest rate increase B) a reduction in the interest rate increase C) a reduction in income D) none of the above