Gross domestic product can be thought of as a measure of
A) the national money supply.
B) national income.
C) national welfare.
D) the national value of all legal exchanges.
E) none of the above.
B
Economics
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Over the past year, output grew 6%, capital grew 2%, and labor grew 4%. If the elasticities of output with respect to capital and labor are 0.3 and 0.7, respectively, how much did productivity grow?
A) 2.0% B) 2.6% C) 3.0% D) 3.3%
Economics
If you default on your auto loan, your car will be repossessed because it has been pledged as ________ for the loan
A) interest B) collateral C) dividend D) commodity
Economics