Under international trade we export those goods for which we have a relatively low
A. materials cost.
B. wage cost.
C. accounting cost.
D. opportunity cost.
D. opportunity cost.
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When a grocery store accepts your $5 bill in exchange for bread and milk, the $5 bill serves as a
A) unit of account. B) standard of deferred payment. C) store of value. D) medium of exchange.
Refer to the above table. If the price of the product is $1.50, what is the marginal revenue product of the 11th worker?
A) $1.50 B) $13.64 C) $150 D) $900
Leakages cause diversion of income from the domestic spending stream
a. True b. False Indicate whether the statement is true or false
If we included intermediate goods in the calculation of GDP,
a. we would be underestimating GDP b. we would be accurately measuring GDP c. we would be overestimating GDP d. any measurement problems would be offset by including the sale of new goods e. any measurement problems would be offset by including the final goods as well