The Bureau of Economic Analysis refers to the difference between the values for GDP and GDI as
A) gross national product.
B) net factor payments.
C) transfer payments.
D) the statistical discrepancy.
D
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The demand curve facing Imelda's Shoe Boutique, a monopolistically competitive firm,
a. is horizontal because Imelda's is small relative to the market as a whole b. is horizontal because Imelda's is large relative to the market as a whole c. slopes downward because Imelda's is small relative to the market as a whole d. slopes downward because Imelda's sells a differentiated product e. slopes downward because Imelda's firm is the entire industry
Which of the following would increase the price of fitness equipment?
a. a reduction in consumer income b. a major study indicating that a 30-minute workout each day improved health more than was previously thought to be the case c. a decrease in the price of steel used to produce the equipment d. all of the above