Key determinants of economic profit include ________
A) the revenue from selling goods and services
B) the cost incurred in buying capital
C) the cost of hiring labor
D) all of the above
E) none of the above
D
Economics
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Refer to Table 2.3. Nominal GDP in 2010 is
A) $540.00. B) $568.00. C) $671.00. D) $812.00.
Economics
We assume that the representative consumer's preferences exhibit the properties that
A) they evolve over time and that more is always preferred to less. B) more is preferred to less and that the consumer prefers diversity. C) the consumer likes diversity and that more is sometimes preferred to less. D) more is sometimes preferred to less and that consumption and leisure are both normal goods.
Economics