Why is it important to use real rather than nominal GDP figures when making comparisons of output across time periods
What will be an ideal response?
The real figures will reflect changes in the quantity of output and not changes in the general level of prices
Economics
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MNCs can often decrease their tax liability through
(a) use of more capital-intensive techniques. (b) use of transfer pricing. (c) use of more foreign input sources. (d) bargaining with the host country. (e) none of the above.
Economics
Diminishing marginal returns occur when:
A) units of a variable input are added to a fixed input and total product falls. B) units of a variable input are added to a fixed input and marginal product falls. C) the size of the plant is increased in the long run. D) the quantity of the fixed input is increased and returns to the variable input fall.
Economics