Over a year, a nation's GDP at current prices rose by 15 percent while the price index increased from 100 to 110. GDP at constant prices rose by about:
A. 3 percent
B. 5 percent
C. 7 percent
D. 9 percent
B. 5 percent
Economics
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Refer to Figure 4-6. What is the value of producer surplus after the imposition of the price floor?
A) $3,000 B) $3,600 C) $4,200 D) $4,500
Economics
If a commercial dairy farm wants to raise funds to purchase feeding troughs, it does so in the
A) output market. B) product market. C) factor market. D) dairy products market.
Economics