The measure of production that values production using current prices is called

A perfectly competitive firm has no control over the

a. quantity of output produced b. quantities of inputs used c. price of the product d. type of good produced e. types of inputs used

When the housing bubble popped, the effect of the negative demand side shock and the negative supply side shock were the same on:

A. output, causing it to definitely decrease. B. output, causing it to definitely increase. C. prices, causing them to definitely rise. D. prices, causing them to definitely fall.