GDP = C + I + G + Xn. From the outbreak of World War I (1914) until the 1970s, if Xn were not included our GDP would be
A. higher.
B. the same.
C. lower.
C. lower.
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In monopolistically competitive industries
A) non-price competition through product differentiation is actively pursued by firms. B) product variety is the same as in perfectly competitive industries. C) firms do not respond to changes in consumer demand. D) firms' economic profits are protected by barriers to entry.
If the price of milk was $1.25 a gallon and it is now $2.25 a gallon, what is the percentage change in price?
A) 4.4 percent B) 8 percent C) 44 percent D) 80 percent
Refer to Figure 22-2. Based on the per-worker production function above, if the economy raises capital per hour worked from $35,000 to $40,000, by how much will real GDP per hour worked increase?
A) $150 B) $1,850 C) $2,000 D) $5,000
Compared to men, women in developing countries
a. receive less education, are less fully employed, and do not live as long b. receive more education, are less fully employed, and live longer c. receive less education, are less fully employed, and live longer d. receive less education, are more fully employed, and live longer e. none of the above