Durable and nondurable goods and services lumped together in the expenditure approach to measuring GDP are called:

The above figure shows the demand and cost curves facing a monopoly. At the profit-maximizing price, the elasticity of demand equals

A) -1. B) zero. C) infinity. D) -3.

Which of the following is true of the gross domestic product (GDP) of a nation? a. It can be measured by the stock of consumer goods in a nation at a particular point in time

b. It can be measured by the stock of capital goods in a nation at a particular point in time. c. It can be measured either by calculating the total spending on production or the total income from that production. d. It is the sum of total spending on production and total income from that production. e. It can be measured from the stock of wealth in the nation.