Real GDP is GDP
A) in current-year prices.
B) in base-year prices.
C) in GDP-prices.
D) in that year's prices.
B
Economics
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In long-run perfectly competitive equilibrium, which of the following is false?
A) There is efficient, low-cost production at the minimum efficient scale. B) Economies of scale are exhausted. C) Economic surplus is maximized. D) Firms earn economic profit.
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Approximately what percentage of the world's extinct species became extinct before humans appeared on earth?
A) 1 percent B) 10 percent C) 20 percent D) more than 99 percent
Economics