Suppose there is an increase in income. This increase in income would have a direct effect on which of the following?
A) financial wealth
B) housing wealth
C) human wealth
D) all of the above
C
Economics
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In San Francisco there are many restaurants that specialize in a wide variety of cuisines. Patronage at these restaurants is influenced by factors such as tastes, price, and location. This market is
A) monopolistically competitive. B) oligopolistic. C) monopolistic. D) perfectly competitive.
Economics
Nominal GDP is $10,000 billion in 2011, but real GDP is only $9,000. It follows that:
a. the GDP deflator is equal to 111 b. the GDP deflator is equal to 100. c. the GDP deflator is equal to 90. d. prices must have decreased relative to the base year.
Economics