Which of the following macroeconomic variables is a small part of real GDP, yet accounts for a large share of the fluctuation in real GDP?
a) unemployment
b) consumer spending
c) auto sales
d) investment
Answer: d) investment
Economics
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If firms' inventories exceed their planned inventories, firms
A) increase employment. B) increase GDP. C) increase production. D) increase income. E) decrease production.
Economics
If the firm in the given graph were to produce Q1 and charge P3, the area A would represent:
These are the cost and revenue curves associated with a firm.
A. consumer surplus.
B. producer surplus.
C. deadweight loss.
D. profits.
Economics