Refer to Table 19-19. Given the information above, calculate the GDP deflator in 2016
A) 114 B) 105 C) 95 D) 87
A
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Economic freedom is a precondition for economic growth. Which of the following is a characteristic of economic freedom?
i. A democratic form of government ii. Property rights must be protected. iii. The government must support and pay for inventions and innovations. A) i only B) ii only C) Both ii and iii D) Both i and ii E) Both i and iii
To attract more bidders, and more aggressive bidders, to your common-value auction
a. withhold relevant information about the value of the object b. don't allow bidders to know how others are bidding c. allow potential bidders ample time to examine the object being sold d. do not hold oral auctions
The federal agency that regulates the New York Stock Exchange is the
a. Securities and Exchange Commission b. Department of Justice c. Department of Commerce d. Federal Reserve Board e. Department of the Treasury
Answer the following questions true (T) or false (F)
1. In the short run, if price falls below a firm's minimum average total cost, then the firm should shut down. 2. If price is equal to average variable cost, then a perfectly competitive firm breaks even. 3. For a given quantity, the total profit of a perfectly competitive firm is equal to the vertical distance between the firm's total revenue curve and its total cost curve.