Refer to Table 19-18. What is the GDP deflator in 2011 if 2016 is the base year?

You are considering buying a store. The store owner shows you sales figures of the store on a "typical" day. The owner has most likely shown you figures for

a. The less productive day b. The more productive day c. Any typical day d. All the days that the store was owned by him

When an economy's limited resources are moved into the production of one commodity, the production of a valuable alternative has to be foregone. This most valuable alternative lost is referred to as:

a. the marginal cost. b. the opportunity cost. c. the sunk cost. d. the fixed cost.