Suppose that in 2016, real GDP grew in Estonia by 3% and the population increased by 5%. Therefore, in 2016, Estonia experienced
A) economic growth and an increase in living standards.
B) no economic growth, but an increase in living standards.
C) no economic growth and no increase in living standards.
D) economic growth, but not an increase in living standards.
D
Economics
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Comment on the following statement: "Taxes on externality-producing activities are generally used to eliminate externalities."
What will be an ideal response?
Economics
Marginal revenue is the:
A. change in product price associated with the sale of one more unit of output. B. change in average revenue associated with the sale of one more unit of output. C. difference between product price and average total cost. D. change in total revenue associated with the sale of one more unit of output.
Economics