If the above figure illustrated a perfectly competitive industry, the equilibrium market output would be equal to

Refer to Figure 4-1. What is the total amount that Arnold is willing to pay for 2 burritos?

A) $2.00 B) $4.50 C) $7.50 D) $10.00

To calculate GDP by the expenditure method, one must add

A) wages, rents, interest, and profits. B) consumption spending, investment spending, government purchases, and net exports. C) consumption spending, investment spending, government purchases, and exports. D) labor, natural resources, entrepreneurship, and capital.