Comparing nominal GDP of 2012 to nominal GDP of twenty years ago
A) is an inaccurate measure of the change in total production.
B) has no economic meaning.
C) will be an accurate measure of the change in total production.
D) determines the extent to which the cost of living changed.
E) cannot be done because the two GDP measures use different prices.
A
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The figure above shows the demand and cost curves for a single-price monopoly. What price will the firm charge?
A) $50 per unit B) $30 per unit C) $20 per unit D) $10 per unit
Women typically earn less than men, even in the same occupation. Which of the following is an explanation for this discrepancy?
A) Women tend to take riskier jobs and earn compensating wage differentials. B) Women have, on average, less workforce experience than men of the same age. C) Women do not work as hard as men because of cultural influences. D) Women are, on average, less motivated than men and therefore tend to avoid taking on more responsibilities.