GDP is not a perfect measure of well-being because
A) the value of leisure is included in GDP. B) GDP is adjusted for increases in drug addiction.
C) GDP is not adjusted for pollution. D) GDP is adjusted for changes in crime rates.
C
Economics
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For a syrup producer in central Vermont, profit is maximized at the level of output for which total
A) revenue exceeds total cost by the largest amount. B) revenue exceeds total cost by the smallest amount. C) revenue is maximized. D) cost is minimized. E) revenue equals total cost.
Economics
A firm is an organization that produces
a. only goods for sale to households b. only services for sale to households c. goods and services for sale to households and businesses d. only goods for sale to other businesses e. only resources
Economics