The government includes the value of the services of a stay-at-home parent who provides childcare for his/her daughter as part of the GDP of the country
a. True
b. False
Indicate whether the statement is true or false
False
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When a recessionary gap exists, actual output ________ potential output and the rate of inflation will tend to ________.
A. is less than; decrease B. is less than; increase C. exceeds; increase D. exceeds; decrease
When the average cost per unit falls as the number of units produced? rises, it is known as which of the? following?
What insight into human behavior do economist learn from observing people playing the ultimatum game?
If a monopolist is operating at an output level where marginal revenue is positive, the firm:
A. could raise revenues by raising prices. B. can always increase profits by lowering its price. C. is operating on the elastic portion of its demand curve. D. has maximized total revenues.