If nominal GDP increases, which of the following will always take place?
A) Output will have increased but prices will have fallen or remained the same.
B) Prices will have increased but output will have fallen or remained the same.
C) Both output and prices will have increased.
D) none of the above
D
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What factors of production can a firm change in the short run? In the long run?
What will be an ideal response?
Net profit after taxes per dollar of assets is a basic measure of bank profitability called
A) return on assets. B) return on capital. C) return on equity. D) return on investment.
The reasons that nations trade include the fact that a. resources are distributed unequally across countries, and persons must trade to get more of what they want by specialization and trade. b. differences in climate lead to unequal abilities to grow certain types of food
c. no one country produces all of what citizens within the country want. d. all of the above
The price of good X has a pattern such that P = $3 on Monday through Thursday of every week, and P = $2 on Fridays. If speculators begin participating in the market for good X, their actions will likely lead to a(n) ______________ in the price of good X on Monday through Thursday and a(n) _______________ in the price of good X on Friday
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease