With each 99 cent iTunes download, GDP
A) rises by 99 cents.
B) falls by 99 cents.
C) remains unchanged.
D) is impossible to measure with this sale because nothing physical has been produced.
A
Economics
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Money serves as a standard of value, which is another way of saying that money functions as
A) a unit of accounting. B) a medium of exchange. C) an opportunity cost of investment. D) standard of deferred payment.
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If Carol's Crayon Factory's price exceeds its average total cost in the short run, then
a. it should shut down b. it is earning a profit c. profits are being maximized d. it should increase output e. it should decrease output
Economics