Changes in the growth rate of real GDP per capita do not reflect which of the following?
a. changes in the total production of final goods in the economy
b. changes in the production of final services in the economy
c. changes in the distribution of income
d. changes in the size of the population
c
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A business that discovers a decline in profit can best solve the problem by
a. firing any workers who were hired since the business had maximum profits b. hiring more workers until the former level of profit is reached c. creating a production costs schedule to find the point when increasing returns change to diminishing returns d. creating a production costs and revenues schedule to find the profit-maximizing output
A tariff has the effect of:
a. raising the price of the exported product. b. increasing the demand for the exported product. c. increasing the demand for the imported product. d. increasing the supply of the imported product. e. raising the price of the imported product.