Which country has the largest real GDP?
a. china
b. japan
c. US
d. Qatar
e. liechtenstein
Ans: c. US
Economics
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A. 1 B. 2 C. 3 D. 4
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In the short run, in a perfectly competitive market, a firm will shut down if
A) P < AVC for all levels of output. B) P < ATC for all levels of output. C) ATC > P > AVC for all levels of output. D) P > AFC for all levels of output.
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The nature of demand indicates that as the price of a good increases:
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