Real output per capita:
a. is measured by real GDP per capita
b. is total real output ( real GDP) divided by the number of persons among whom it will be distributed.
c. is one measure of the average level of economic well being in a country.
d. all of the above are correct.
d
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An innovation that blurred the distinction between brokerage firms and commercial banks was Merrill Lynch's development in 1977 of the
A) cash management account. B) money market mutual fund. C) individual retirement account. D) discount brokerage.
It is appropriate to use the supply-and demand-model if, in a market,
A) everyone is a price taker with full information about the price and quality of the good. B) firms sell identical products. C) costs of trading are low. D) All of the above.
Why should the CPI base year be changed periodically?
What will be an ideal response?
For which of the following environmental issues is property rights most relevant?
a. Greenhouse gas emissions b. Acid rain c. Endangered species d. Fresh water resources