An economic growth model
A) explains changes in nominal GDP per capita in the short run.
B) explains changes in real GDP per capita in the short run.
C) explains changes in real GDP per capita in the long run.
D) explains changes in nominal GDP per capita in the long run.
C
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Total fixed cost is the cost of
A) labor. B) production. C) a firm's fixed factors of production. D) only implicit factors of production. E) only explicit factors of production.
In goods market equilibrium in an open economy,
A) the desired amount of exports must equal the desired amount of imports. B) the desired amount of exports must equal the desired amount of imports less the amount lent abroad. C) the desired amount of national saving must equal the desired amount of domestic investment. D) the desired amount of national saving must equal the desired amount of domestic investment plus the amount lent abroad.