The equation TR/Q is used to compute
A) total cost.
B) average revenue.
C) demand.
D) marginal revenue.
B
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The growth of total railroad mileage
(a) was far greater after the Civil War than before. (b) was maximized in miles built per decade before 1860. (c) was a free-market phenomenon, not subject to government subsidies. (d) was not subject to business cycle fluctuations.
Which group of economists argues that the stock market crash of 1929 significantly reduced wealth, causing consumption to fall and resulting in a significant downturn in residential construction and investments?
(a) Classical economists. (b) Keynesian economists. (c) Monetarists. (d) Austrians.
In panel data, the regression error
A) is likely to be correlated over time within an entity B) should be calculated taking into account heteroskedasticity but not autocorrelation C) only exists for the case of T > 2 D) fits all of the three descriptions above
If real GDP grew by 5 percent during one year and population also grew by 5 percent, then
a. real GDP did not change. b. nominal GDP did not change. c. the change in real GDP equaled the change in nominal GDP. d. real GDP per capital did not change.