Which of the following statements best describes the level of potential output in the U.S.?
A. It has been decreasing since 1999
B. It never changes year to year
C. It usually increases year to year
D. It is very erratic year to year
Answer: C
Economics
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Each identical consumer has the following demand for golf, q = 100 - p, where q is the number of rounds of golf played per year and p is the price per round. The only golf course in an isolated town incurs a marginal cost of $10 per round of golf
It wishes to charge a membership fee and a fee per round of golf. What price will it set for each fee?
Economics
Each point on a production possibilities frontier requires full employment of resources
a. True b. False
Economics