When measuring GDP, only final goods and services are counted in order to avoid double counting
Indicate whether the statement is true or false
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At a price of $9.99, Danielle buys 3 digital books per month. When the price decreases to $7.99, Danielle buys 4 digital books per month. Jason says that Danielle's demand for digital books has increased. Is Jason correct?
A) Yes, Jason is correct. B) No, Jason is incorrect. Danielle's demand has decreased. C) No, Jason is incorrect. Danielle's quantity demanded has decreased, but her demand has stayed the same. D) No, Jason is incorrect. Danielle's quantity demanded has increased, but her demand has stayed the same. E) No, Jason is incorrect. Danielle's quantity demanded has increased and her demand has decreased.
Both Stan and Kyle own potato chip factories. Stan's factory has low fixed costs and high variable costs. Kyle's factory has high fixed costs and low variable costs. Currently, each factory is producing 5,000 bags of potato chips at the same total cost. Complete the following statement with the correct answer. If each produces
A. more, the costs of Kyle's factory will exceed those of Stan's factory. B. less, the costs of Kyle's factory will exceed those of Stan's factory. C. less, their costs will be equal. D. more, their costs will be equal.