If manufacturer's new orders received for consumer goods are starting to fall, real GDP is most likely
A) beginning to rise.
B) bottoming out.
C) getting ready to decrease.
D) already decreasing.
C
Economics
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Company A manufactures a single automotive component. It had total revenue of $100,000 and an economic profit of $20,000. What is the price of the component it manufactures?
A. ($100,000/quantity sold). B. ($100,000/quantity produced). C. ($100,000/quantity sold) ? average cost of the product. D. ($100,000/quantity produced) ? average cost of the product.
Economics
The result of government intervention in the market is that
A. The production possibilities curve always shifts outward. B. Society is always worse off. C. Society is always better off. D. Society could be made better or worse off.
Economics