Although imperfect, which of the following is used as a measure ...

[K@]

Although imperfect, which of the following is used as a measure of the standard of living?
 
  A) real GDP  population
  B) real GDP  population
  C) nominal GDP  population
  D) nominal GNP  population
  E) nominal GNP  population

Question 2

Which of the following statements correctly identifies a difference between labor and land?
 
  A) Land can be rented but not owned by a firm, whereas labor can be rented or owned.
  B) Labor can be rented but not owned, whereas land can be rented or owned by a firm.
  C) Labor is hired until a point where the marginal product of labor equals the price of labor, whereas land is rented until a point where the average product of land equals the price of land.
  D) Labor is hired until a point where the average product of labor equals the price of labor, whereas land is rented until a point where the marginal product of land equals the price of land.

[IAPPLET]

Answer to Question 1

A

Answer to Question 2

B

[K@]

Great answer, keep it coming

[lindahyatt42]

Thanks for the timely response, appreciate it