The best measure of net investment is
A. Gross investment per capita.
B. Real GDP growth rate.
C. Gross investment less depreciation.
D. Real GDP per worker.
Answer: C
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In the figure above, if the wage rate is $6 per hour, then the
A) firms' surplus is the area d + e + f. B) workers' surplus is the area a + b + c. C) deadweight loss equals zero. D) Only answers A and C are correct. E) Answers A, B, and C are correct.
Who argued that the economy should be left to itself to close a recessionary gap?
a. John F. Kennedy b. John Maynard Keynes c. Mercantilists d. Classical economists e. Socialists
If policy makers do nothing in a recessionary gap, the most likely outcome is a
a. drop in the inflation rate and a rise in the unemployment rate. b. drop in the inflation rate and a drop in the unemployment rate. c. rise in the inflation rate and a drop in the unemployment rate. d. rise in the inflation rate and a rise in the unemployment rate.
How is perfect competition similar to and different from monopolistic competition?
What will be an ideal response?