Based on the information in Scenario 1, real GDP in 2016 (in 2015 dollars) in this economy was
A) $830. B) $1,025. C) $1,090. D) $1,345.
B
Economics
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A payment made by the government to private producers of roads and libraries would be an example of
A) a subsidy. B) a copyright. C) a voucher. D) public provision. E) a Coase payment.
Economics
If the supply curve for orange juice is estimated to be Q = 40 + 2p, then, at a price of $2, the price elasticity of supply is
A) .01. B) .09. C) 1. D) 11.
Economics