If the size of the underground economy is large
A) government agencies have difficulty measuring nominal and real GDP.
B) it is relatively easy to gather productivity data on many businesses.
C) measuring nominal GDP is relatively easy, but measuring real GDP is difficult.
D) measuring real GDP is relatively easy, but measuring nominal GDP is difficult.
Answer: A
Economics
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Producer surplus is equal to
A) the area under the supply curve. B) the difference between price and average cost for all units sold. C) the difference between price and marginal cost for all units sold. D) the firm's profit when fixed costs exist.
Economics
Economic indicators, like unemployment claims and the average workweek, which change before real GDP changes, are called:
A. leading. B. lagging. C. coincident. D. structural.
Economics