GDP is
A) a perfect measure of the value of production.
B) an imperfect measure of the standard of living.
C) the only factor that affects our standard of living.
D) a perfect measure of the standard of living.
E) a measure which includes the value of all newly produced goods and services.
B
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Average cost regulation of a natural monopoly does not involve: a. production at a socially inefficient level of output
b. a tendency for average total cost curves to shift upward over time. c. a subsidy. d. production at the output level at which demand intersects the average total cost curve.
Which of the following is true of an option?
a. It is based on market volatility and thus assures a high profit to risk preferring individuals. b. It provides the holder the right (but does not obliges him/her) to buy or sell a certain quantity of an underlying asset before its expiration. c. The greater the volatility of the underlier's price the less likely that the option will go "in the money" before it expires. d. Options help individuals to minimize their business risks by transferring it to others for a fixed time interval.