In general, economic profits are:
A. greater than accounting profits.
B. less than accounting profits.
C. the same as accounting profits.
D. not comparable to accounting profits.
B. less than accounting profits.
Economics
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What are the two critical measures of a nation's economic health?
A) sales and taxes B) wages and raises C) income and spending D) production and income
Economics
Okun's Law states that for each percentage point that the unemployment rate is above its natural rate, there is a ________ percent gap between real GDP and potential GDP
A) 4 B) random C) 2 D) 6 E) 8
Economics