The purchase and sale of three types of legal items are not included in this year's GDP. What are these three items?
What will be an ideal response?
The three items are: used goods; financial assets; and, intermediate goods.
Economics
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If demand is price elastic, then when price decreases, total revenue:
a. decreases. b. increases. c. does not change. d. is less than one. e. is negative.
Economics
Which of the following is not associated with the monopoly market structure?
a. Many sellers. b. A single seller. c. A unique product. d. Impossible entry into the market.
Economics