Refer to the diagram. The profit-maximizing output:
A. is n.
B. is k.
C. is h.
D. cannot be determined from the information given.
A. is n.
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In an open economy including the government, planned expenditures equals
A) C + I + G + X + M. B) C + I + G. C) C + I + G - X + M. D) C + I + G + X - M.
The most commonly used tool by the Federal Reserve to control the monetary base is
a. changes in the discount rate. b. changes in tax rates on commercial banks. c. changes in legal required reserve ratios. d. open market operations.
By dividing the value of total domestic output (real Gross Domestic Product (GDP)) by the number of workers, economists derive
A) the net domestic product. B) labor productivity. C) the size of the labor force. D) the rate of capital accumulation.
When real GDP is in equilibrium there will be no tendency for real GDP to _____ or _____.
Fill in the blank(s) with the appropriate word(s).