According to the above table, net domestic product is
A. $13,092 billion.
B. $12,603 billion.
C. $13,750 billion.
D. $8,813 billion.
Answer: A
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In 1910, 8.6 percent of American 17-year olds were high school graduates. By 1938, this figure _____
a. had fallen to 5 percent. b. equaled 15 percent. c. had risen to nearly 50 percent. d. had not changed appreciably.
Assume a company is at a point in production where marginal product is below average product. Which of the following must be true?
A. Diminishing marginal product must have set it. B. Marginal product must be falling. C. Average product must be falling. D. All of these are true.
If capital deepening increases from $100 to $150 and this increase results in worker's productivity increasing from $60 to $70, and if there were 100 workers, then GDP is
a. $10,500 b. $6,000 c. $1,500 d. $7,000 e. $1,000
Aggregate demand decreases and real output falls, but the price level remains the same. Which factor most likely contributes to downward price inflexibility?
A. The wealth effect. B. Business taxes. C. Fear of price wars. D. The multiplier effect.