The rate of economic growth is the annual rate of change in per capita real GDP. This measure of the rate of growth of a? nation's economy takes into account both its growth in overall production of goods and services and the growth rate of its population. It is an average measure that does not account for possible changes in the distribution of income or various welfare costs or benefits that may accompany growth of the economy.
What will be an ideal response?
economic growth
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A perfectly competitive firm with a random demand has a ________ demand curve and ________ marginal revenue curve.
A) horizontal; horizontal B) vertical; horizontal C) vertical; vertical D) horizontal; vertical
Among the following examples, the one that best illustrates a public good is a(n)
A. bike path around a city or town. B. laptop used by a student in a college or university. C. airline ticket bought by a vacationer. D. movie produced by a Hollywood company.
Nontraded securities are part of
A) direct, but not indirect finance. B) indirect, but not direct finance. C) direct and indirect finance. D) neither direct nor indirect finance.
A perfectly competitive firm's pricing decision depends on:
a. whether the firm wants to maximize profits or not. b. whether the firm wants to maximize sales revenue or not. c. the firm's costs. d. whether it wants to compete with other firms in the market or not. e. the market supply and demand.