Refer to the graph shown.
Assuming each carnival game costs $1 and each Ferris wheel ride costs $2, a consumer with $10 to spend will optimally choose to consume at point:
A. A.
B. B.
C. C.
D. D.
Answer: A
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How should per capita real Gross Domestic Product (GDP) be used?
A) It is an accurate measure of economic well-being. B) It is a reasonably good measure of productive activity. C) Per capita real Gross Domestic Product (GDP) is a good gauge of a nation's quality of life because it takes into account a nation's cultural and spiritual values. D) All of the above.
The government should subsidize the production of goods which generate a positive externality
a. True b. False Indicate whether the statement is true or false
As long as debt grows by the same percentage as nominal GDP, the debt-to-GDP ratio will stay constant but the interest payments-to-GDP ratio will increase
a. True b. False
The concept of economies of scale becomes especially _____________ to international trade when it enables one or two large producers to supply the entire country.
a. problematic b. unrelated c. relevant d. unproductive