At what average annual rate has real GDP and real GDP per capita, respectively, grown from 1950 to 2012?
A. 7.5 percent and about 5 percent
B. 3.1 percent and about 2 percent
C. 5.1 percent and about 3 percent
D. 1.1 percent and about 0.5 percent
B. 3.1 percent and about 2 percent
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Which of the following statements about explicit costs is true?
A. They usually exceed implicit costs. B. They are the only costs that matter to business owners. C. They appear on the firm's balance sheet. D. They are difficult to measure.
Refer to the Article Summary. Prior to the initiation of the BRRD, the European Union had essentially been bailing out troubled banks. In doing this, the EU was, in effect, acting as a
A) private equity firm. B) shadow bank. C) lender of last resort. D) conductor of open market operations.
The price of peanuts increases. At the same time, we see the price for Jelly rise. How does this affect the market for peanut butter?
a. The demand curve will shift to the left; the supply curve will shift to the left b. The demand curve will shift to the left; the supply curve will shift to the right c. The demand curve will shift to the right; the supply curve will shift to the left d. The demand curve will shift to the right; the supply curve will shift to the right
Antitrust laws prohibit undesirable business practices by firms holding monopoly power
a. True b. False Indicate whether the statement is true or false