Strong economic growth since 1960 has allowed nations like Singapore and Ireland to surpass nations such as the United Kingdom and France in real GDP per capita.
a. true
b. false
Answer: a. true
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All of the following are components of the expenditure approach to measuring GDP EXCEPT
A) Shaniq's purchase of a meal at the Olive Garden in Atlanta. B) a Senator from Iowa being paid the monthly salary. C) the army buying new M1 Abram tanks. D) Ford Motor Company buying new Dell computers for use in its marketing department in Dearborn, Michigan.
Economies of scale and limited demand can form a natural barrier to entry that can create a natural oligopoly
Indicate whether the statement is true or false
The current official "base year" is
A) 2000. B) 1992. C) 1980. D) 1972.
At the uniform abatement standard described above, find total abatement costs for both firms.
Among the identified point sources contributing to the pollution of Puget Sound are Dow Chemical (D) and Chevron (C). Each firm's cost functions are shown below. MACD = 2.5AD MACC = 3.75AC TACD = 1.25AD2 TACC = 1.875AC2 To meet the effluent limits under the Clean Water Act, each firm has an NPDES permit to release some fixed amount of effluents, so each must abate 30 units.