Between 1945 and 1950, the U.S. price level rose by one-third. This increase was complemented by which of the following?
(a) An increase in nominal and real GDP
(b) An increase in nominal GDP but a decrease in real GDP
(c) An increase in real GDP but a decrease in nominal GDP
(d) Stable nominal and real GDP
(b)
Economics
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Maxine's Cookie Shop sells chocolate chip cookies in a perfectly competitive market for $2 per dozen. Maxine currently produces 200 dozen cookies per day and average total cost at this level of production is $1.75
What level of profit is this firm earning? Explain.
Economics
The first factories in the US were developed within the __________ industry
a. iron smelting b. grain milling c. boot and shoe d. cotton textile
Economics