Transfer payments are subtracted from national income to get to personal income
Indicate whether the statement is true or false
FALSE
Economics
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Nominal GDP in 1970 was $1035.6 billion, and in 1980 it was $2784.2 billion. The GDP price index was 30.6 for 1970 and 60.4 for 1980, where 1992 was the base year. Calculate the percent change in real GDP in the decade from 1970 to 1980
Round off to the nearest percentage point. A) 36% B) 97% C) 136% D) 169%
Economics
Exhibit 8-8 Profit maximizing for a monopolist
?
As shown in Exhibit 8-8, if the monopolist produces the profit-maximizing output, total revenue is the rectangular area:
A. OQAP1. B. OQ2BP2. C. OQ3CP3. D. OQ2DP4.
Economics