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When final sales are larger than GDP,a. inventories did not changeb. a net increase in inventories took placec. a net decrease in inventories took placed. the direction of any net change in inventories is uncertain
The total value added in the production of a final gooda. exceeds the price of the final goodb. equals the price of the final goodc. exceeds the total payments made to owners of productive resources used in the productiond. both (b) and (c)
Discharges of chemicals from a paper plant that pollute a nearby river represent an example ofa. internal costsb. the underground economyc. social costsd. transfer costs
An increase in the price level adds to the value of the nominal GDP but not to the real GDP.TrueFalse
The GDP excludes the production of services for which no monetary transaction takes place.TrueFalse
Suppose nominal GDP in 1999 was $100 billion also in 2001 it was $260 billion. Illustrate what is the own-price elasticity of demand.
The Sunshine Corporation finds that its costs are $40 when it produces no output. Its total variable costs (TVC) change with output as shown in the accompanying table.
What other economic factors are affected when taxes are raised or lowered, and how are they affected. Should the government increase tax rates on everyone as a way to equalize incomes and wealth.
The costs of expected inflation cause productive resources of an economy to be directed away from their efficient allocation. Explain how each of the following costs of expected inflation distrot the allocation of productive resources:
In what ways do you think their behavior would differ from comparable doctors in a not-for-profit hospital in the US?
Illustrate what new decisions will you make regarding production levels also pricing for your Widget facility.
what will happen in the market for personal computers? How will the equilibrium price and equilibrium quantity of personal computers change?
Putting utility on the y-axis and wealth on the x-axis, use a graph to show why James would rather have $100 for sure instead of a gamble where he gets $20 20% of the time and $120 the rest of the time.
The nation of Wrexington utilizes the same method to Compute the unemployment rate as the U.S. Bureau of Labor Statistics utilizes. From the data below, Compute Wrexington's unemployment rate.
argue the relationship among the marginal cost also the average variable cost also among marginal cost also average cost.
According to the article about the gasoline shortage, which way is the demand curve shifting
Can we conclude that an individual participating in the program would be worse off if provided with a cash grant of $50 instead of the viagra?
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