Which of the following is true?
a. GDP is a "flow" concept.
b. The purchase prices of both intermediate goods and final goods are included in GDP.
c. GDP measures economic welfare.
d. GDP is a measure of changes in the general level of prices.
a
Economics
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The table above shows a nation's production possibilities frontier. If the nation wants to produce 4 robots and 34 pizzas,
A) the nation will be producing inefficiently. B) the opportunity cost is 9 pizzas. C) it will shift the production possibilities frontier. D) it will be unable to do so because the production point is unattainable. E) the nation will then be producing at a production efficient point.
Economics
Why doesn't a monopoly have a supply curve?
What will be an ideal response?
Economics