What is the best measure of the value of output of an economy?
A) NNP B) GNP C) GDP D) the GDP deflator
C
Economics
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The above figure shows the domestic market for tomatoes. Suppose this market is isolated from global competition and there is a support price set at $16. In this figure, what area equals the producer surplus?
A) area A + area B + area C B) area A + area F C) area B + area C + area D + area F D) area C + area D + area E + area G E) area F
Economics
Since Social Security is a pay-as-you-go program, the funds for the people retiring today
A) come from those of us working today and in the future. B) come from the Federal Reserve. C) come from import taxes. D) come from foreign sales of gold.
Economics