Which of the following types of government spending is included when calculating GDP?
A) spending at the federal level
B) spending at the state level
C) spending at the municipal level
D) all of the above
E) only A and B
D
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Assuming all else equal, if firms expect the demand for their products to increase in the near future, ________
A) their labor supply curve will shift to the right. B) their labor demand curve will shift to the left. C) their labor supply curve will shift to the left. D) their labor demand curve will shift to the right.
Recall the Application about the price and supply of blueberries to answer the following question(s).According to the Application, the upward jump of the price of blueberries from 2005-2007 followed by the drop in the price of blueberries to $1.44/ lb. shows that blueberries are in:
A. a constant-cost industry. B. an increasing-cost industry. C. a decreasing-cost industry. D. a zero-cost industry.