As the best measure of the size of economic fluctuations associated with a business cycle, economists typically use
A) real GDP.
B) the deviation of real GDP from potential GDP.
C) potential GDP.
D) the deviation of real GDP from nominal GDP.
B
Economics
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The portion of the marginal cost curve above the minimum point on the average variable cost curve is part of the perfectly competitive firm's
a. average revenue curve b. effective demand curve c. average variable cost curve d. supply curve e. total revenue curve
Economics
A monopolist sells 6 units of a product per day at a unit price of $15. If it lowers price to $14, its total revenue increases by $22. This implies that its sales quantity increases by:
A. 4 units per day B. 3 units per day C. 2 units per day D. 1 unit per day
Economics