GDP is defined as the dollar value of __________ in a given year.
A. all of the inputs used in the economy
B. the total output of the economy
C. the total purchases made in the economy
D. all intermediate and final goods produced in the economy
Answer: B
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Refer to the accompanying table below. The marginal benefit of the 6th unit of activity is:Units of ActivityTotal CostTotal Benefit0$0$01$2$122$6$223$12$304$20$365$30$406$42$427$56$43
A. $1 B. $4 C. $7 D. $2
If a woman whose average tax rate were 25 percent had a taxable income of $40,000, how much tax would she pay?
What will be an ideal response?
Suppose the cost of producing cellular phones declines from $25 to $20 . If buyers' valuations remain fixed at $30, the transaction would create _____ more economic value
a. $10 b. $5 c. $2 d. $15
The costs of unemployment are lowest (and perhaps even negative) for ________ unemployment.
A. structural B. cyclical C. frictional D. cyclical and structural