Gulmirah, a small underdeveloped country, has an adult population of 16.8 million, and the remaining 13.75 million of the population is below 18 years of age. The approximate output per capita of this country is $644.80 . The GDP of Gulmirah is equal to approximately _____
a. $8.87 billion
b. $10.08 billion
c. $20.30 billion
d. $13.22 billion
e. $19.70 billion
e
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Under perfect competition, the market quantity is 
Figure 42.2
A. Q1. B. Q2. C. Qa. D. Qb.
Economic variables that generally turn down before a recession begins and turn back up before the recovery starts are called:
A) leading indicators. B) coincident indicators. C) lagging indicators. D) none of the above.
The Federal Reserve has been quite successful in keeping the inflation rate low for the past 20 years
a. True b. False
Which of the following is true about a monopolistically competitive firm?
a. It can earn an economic profit in the short run, but not the long run. b. It can earn an economic profit in the short run and the long run c. It can earn an economic profit in the long run, but not the short run d. It cannot earn an economic profit in either the short or long run