In a small country, using prices of 2012, GDP in 2012 was $100 and GDP in 2013 was $110. Using prices of 2013, GDP in 2012 was $200 and GDP in 2013 was $210
The country's BEA will calculate ________ percent as the growth in real GDP between those years.
A) 7.5
B) 15
C) 10
D) 5
E) None of the above answers is correct.
A
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Successive downward movements along the demand curve for the product of a monopolist always generate successive
A) increases in the monopolist's marginal revenue. B) increases in the monopolist's average total costs. C) decreases in the additional per-unit costs incurred by the monopolist. D) decreases in the additional per-unit revenues earned by the monopolist.
In a Nash equilibrium:
A. the strategy played by an individual depends upon the strategy played by other players B. the strategy played by each individual is a best response to the strategies played by everyone else C. there is no incentive for any player to deviate D. All of these are correct.
Which of the following should not be considered as an opportunity cost of attending college?
a. Expenses that are the same whether or not you attend college b. Lost salary c. Business lunches d. Interest that could have been earned on your money had you put the money into a savings account, rather than spent it on tuition e. Opportunities sacrificed in the decision to attend college
According to the rule of 70,
a. if a country is growing at 14% per year, its output will double in approximately 5 years. b. if a country is growing at 10% per year, its output will double in approximately 7 years. c. if a country is growing at 2% per year, its output will double in approximately 35 years. d. all of the above are true.