Which of the following expenditures would not be included in GDP?
A. Purchase of a new lawnmower.
B. Purchase of a silver cup previously sold new in 1950.
C. Purchase of a ticket to the latest movie.
D. Purchase of a landscaping service.
Answer: B
Economics
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A) upward sloping. B) a vertical line at potential output. C) a horizontal line at the current price level. D) downward sloping.
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A natural monopoly exists when, throughout the range of market demand,
a. average cost is increasing b. there are diseconomies of scale c. average cost is decreasing d. average cost is constant e. marginal cost exceeds average cost
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Why do many firms base incentive pay on group performance?
What will be an ideal response?
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Causation and Correlation are generally the same thing.
A. True B. False C. Uncertain
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