Babysitting services the oldest son provides his parents
A) does not count as real GDP nor nominal GDP.
B) counts as real GDP and nominal GDP.
C) counts in both real and nominal GDP only if the son is not paid.
D) counts as real GDP but not nominal GDP.
E) counts as nominal GDP but not real GDP.
A
Economics
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New technology for producing plywood is developed. Which of the figures above best illustrates this change?
A) Figure A B) Figure B C) Figure C D) Figure D E) Figure A and Figure D
Economics
If a perfectly competitive apple farm's marginal revenue exceeds the marginal cost of the last bushel of apples sold, what should the farm do to maximize its profit?
A) increase output B) decrease output C) lower its price to sell more D) determine what the total revenue and total cost of production are
Economics