Total profit for a firm is calculated as
a. marginal revenue minus average total cost.
b. average revenue minus average total cost.
c. marginal revenue minus marginal cost.
d. (price minus average cost) times quantity of output.
d
Economics
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GDP is a measure of the total output of an economy.
Answer the following statement true (T) or false (F)
Economics
The annual growth rate of an economy is 10 percent. The economy's GDP will double in about ________ years
A) 12 B) 10 C) 20 D) 7 E) 14
Economics
[NeedAttention]
Exhibit 30-2
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Economics
Classical economists believe that an increase in the money supply will lead to
a. a decrease in nominal GDP b. a decrease in real GDP c. a decrease in the price level d. an increase in nominal GDP e. an increase in real GDP
Economics