Suppose that an economy produces 30,000 units of good A which sells at $3 a unit and 60,000 units of good B which sells at $2 per unit. Production of good A contributes
a. 1/2 times as much to GDP as the production of good B.
b. 3/2 times as much to GDP as the production of good B.
c. 3/4 times as much to GDP as the production of good B.
d. 4/3 times as much to GDP as production of good B.
c
Economics
You might also like to view...
A chart that lists how much of a good a supplier will offer at various prices:
a. subsidy b. supply schedule c. law of supply d. elasticity of supply e. excise tax
Economics
Sam loves cookies. She receives 200 utils for one cookie, 360 for two cookies, 490 for the third, 560 for four cookies, and 600 for five cookies. The marginal utility of the third cookie is
A) 130. B) 490. C) 70. D) cannot be determined.
Economics