Lois sells ten sweaters she had knitted to a retail store. The gross domestic product (GDP) of her country _____
a. will increase
b. will decrease
c. will remain unaffected
d. will increase only if the sweaters are as good as the sweaters sold by other retailers
e. will increase if the price of each sweater is less than the cost of inputs required
a
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The real rate of interest equals 5.0 percent and the anticipated rate of inflation is 3.0 percent. What does the nominal rate of interest? equal?
"If there is an inefficient level of nursing care in South America, a deadweight loss exists." Is this statement true or false?
What will be an ideal response?
The payment of wages by a firm is an example of:
A) an explicit cost of production. B) an implicit cost of production. C) an irreversible cost of production. D) a long-run cost of production.
The _____ allows voters to vote on a series of marginally smaller quantities of a good
a. committee version of the medium voter model b. representative democracy version of the medium voter model c. referendum version of the medium voter model d. cyclical majority