The total value of goods and services produced within a nation's borders, measured in constant prices refers to:
A. Nominal GDP.
B. Real inflation.
C. Per capita GDP.
D. Real GDP.
D. Real GDP.
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A fixed-weight price index uses a process that adjusts the weights continuously year by year
a. True b. False Indicate whether the statement is true or false
A decision to supply labor or not to supply it is also a decision to
a. earn the highest possible wage. b. demand or forgo a certain amount of leisure. c. be as productive as possible. d. join the union.
Points that lie outside (or beyond) the PPF are
What will be an ideal response?
Refer to the information provided in Figure 5.3 below to answer the question(s) that follow.
Figure 5.3Refer to Figure 5.3. Using the midpoint formula, if the price of a gardenburger decreases from $7 to $6, the price elasticity of demand equals ________, and the decrease results in a(n) ________ in total revenue.
A. -.13; decrease B. -1.44; increase C. -.69; increase D. -13; increase