Which of the following describes an economy?
a. The social arrangement that determines what is produced, how it is produced, and for whom it is produced
b. The process that describes the evolution of human society
c. The arrangement that determines who governs the people and how they govern the people
d. The system by which a state or community is controlled
a
Economics
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A cost that expires without producing any revenue benefit is known as a(n) _____.
a. profit b. expense c. surplus d. loss
Economics
According to the above table, if per capita real GDP is currently $100, then at a constant annual rate of growth of 8 percent, per capita real GDP ten years from now will be equal to
A. $259. B. $214. C. $216. D. $200.
Economics