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Author Question: Refer to Table 8-18. What is nominal GDP in 2016 when 2011 is the base year? A) 28,885 B) 11,790 ... (Read 130 times)

imowrer

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on: Jun 29, 2018
Refer to Table 8-18. What is nominal GDP in 2016 when 2011 is the base year?
 
  A) 28,885 B) 11,790 C) 11,200 D) 10,275

Question 2

A permanent increase in demand ______ economic profit in the short run and some firms will ____ in the long run.
 
  A. does not change; exit the market
  B. increases; enter the market
  C. increases; raise their price
  D. does not change; advertise their good


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Li Jun

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

B The increase in demand leads to a higher price, which in-creases the firms' economic profit. The economic profit influ-ences other firms to enter the market.


imowrer

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

deja

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Reply 3 on: Yesterday
Wow, this really help

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