Economic indicators, like unemployment claims and the average workweek, which change before real GDP changes, are called:
a. leading.
b. lagging.
c. coincident.
d. structural.
a
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If nominal GDP is $230 for a period and real GDP is $200 for the same period, what is the GDP price index for this period?
What will be an ideal response?
Which of the following may be consistent with profit-maximizing behavior by a price-taking producer:
A. Output is set where price is equal to marginal cost. B. Output is set where marginal revenue is equal to marginal cost. C. No output is produced. D. (a) and (b) E. (a) and (c) F. (b) and (c) G. All of the above H. None of the above
Global technologies, such as electronics, have made up a significant portion of the recent wave of manufacturing offshoring
Indicate whether the statement is true or false
Study the graph. Suppose this nation starts with producing all military goods. It then decides to produce a mix of civilian and military goods represented by point B. What represents the costs in military goods given up?
What will be an ideal response?