GDP is used in an attempt to
A) calculate the profitability of a country.
B) measure the economic performance of a country.
C) determine the overall well-being of a country.
D) figure out the prices of all goods and services exchanged in the legal economy.
E) guide entrepreneurs toward more profitable investment decisions.
B
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Aimee sells hand-embroidered dog apparel over the Internet. Her annual revenue is $128,000 per year, the explicit costs of her business are $42,000, and the opportunity costs of her business are $30,000. What is her economic profit?
A) $12,000 B) $56,000 C) $86,000 D) $98,000
Which of the following would cause a rightward shift in the aggregate supply curve?
A. larger-than-expected wage increases B. lower oil prices C. increased investment spending D. greater government regulation