Real GDP is the value of final goods and services produced in a year
A) expressed in the prices of that same year.
B) during a recession.
C) minus depreciation.
D) expressed in the prices of a base year.
E) minus the value of all the intermediate goods produced.
D
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Which of the following will not shift the demand curve for labor?
A. the use of a larger stock of capital with the labor force B. a change in the wage, marginal resource cost C. the adoption of a more efficient method of combining labor and capital in the production process D. an increase in the price of the product that labor is helping to produce
If a firm in the U.S. wants to purchase 50,000 yuan worth of raw materials from a Chinese firm, how many dollars would it have to transfer to the firm? Assume that one dollar exchanges for 6 yuan in the foreign exchange market
A) $8333.33 B) $7,500 C) $6,773.21 D) $9,663.22
Suppose you are the manager of Good Smells, a home fragrance firm. To make your fragrance, you purchase orange peels from orange juice manufacturers. If the demand for orange juice increases, this will cause the production of orange juice peels to ________ and the price of orange juice peels to ________.
A) decrease; rise B) increase; rise C) decrease; fall D) increase; fall
A shortage of hospital beds will likely lead to
a. an increase in the supply of hospital beds. b. a decrease in the demand for hospital beds. c. an increase in the price of a hospital stay. d. a decrease in the price of a hospital stay. e. none of the above.