Theoretically, when a currency depreciates one can predict that
A. the price level will rise and real GDP will rise.
B. the price level will fall and real GDP will fall.
C. real GDP will rise, but price change is not predictable.
D. the price level will rise, but real GDP change is not predictable.
Answer: D
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Which of the following would be included in total final product (GDP)?
A) Social Security B) unemployment benefits. C) U.S. semiconductors that are bought by a firm in Hong Kong D) product produced in Canada that is bought by a firm in the U.S.
A local doughnut shop produces about 600 dozen doughnuts daily. If flour prices increase 20 percent
a. only marginal cost will shift up. b. only marginal cost and average total cost will shift up. c. marginal cost, average variable cost, and average total cost will shift up. d. marginal cost, average total cost, and average fixed cost will shift up.