Average consumption in an economy is best measured by ________, while average productivity in an economy is best measured by ________.
A. output per worker; output per person
B. output per worker; total output
C. total output; output per worker
D. output per person; output per worker
Answer: D
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The annual statement of the outlays, tax revenues, and surplus or deficit of the government of the United States is the federal
A) budget. B) deficit record. C) debt to the public. D) spending. E) surplus record.
Which of the following are assets of commercial banks? i. reserves ii. loans iii. deposits
A) i only B) ii only C) i and ii D) ii and iii E) i, ii, and iii
Refer to the diagram. A price of $20 in this market will result in a:
A. shortage of 50 units.
B. surplus of 50 units.
C. surplus of 100 units.
D. shortage of 100 units.
In perfect competition, if there are no barriers to entry, only the lowest-cost businesses will survive in the long run.
Answer the following statement true (T) or false (F)