When GDP is measured in "current prices" it is known as the

A) real GDP.
B) nominal GDP.
C) real GNP.
D) nominal GNP.

Answer: B) nominal GDP.

Economics

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The above figure shows the marginal benefits and marginal costs of a college education. If no subsidies are paid, enrollment equals

A) 0. B) 10 million. C) 15 million. D) 25 million.

Economics

Which of the following production functions exhibits constant returns to scale?

A) q = KL B) q = KL0.5 C) q = K + L D) q = log(KL)

Economics