In terms of GDP, counting ______ leads to double counting.
a. exported goods
b. goods sold in bulk
c. agricultural goods
d. intermediate goods
d. intermediate goods
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Which of the following is an example of external economies?
(a) The cost of per unit produced in manufacturing goods falls as the industry size grows. (b) The cost of per unit produced falls as the firm size, not the industry size, grows. (c) The cost of per unit produced in manufacturing goods increases as the industry grows. (d) The cost of per unit produced falls as the size of the firm grows.
Hit-It produces 320 baseball bats per day using 2 workers who each work 8 hours per day. What is Hit-It's productivity?
a. 320 baseball bats b. 160 baseball bats per hour c. 20 baseball bats per hour d. None of the above is correct.
Based on the graphs for an increase in aggregate demand and the Phillips curve, we can see that when inflation is low, ______.
a. RGDP is high
b. unemployment is low
c. aggregate demand is weak
d. aggregate demand is strong
Macroeconomics
A. deals with both individual decisions and the sum of those individual decisions. B. studies the behavior of individual consumers, firms and markets. C. studies the behavior of the economy as a whole. D. involves the interaction between different countries in specific markets.