Author Question: Nominal gross domestic product (GDP) is measured in terms of the _____. a. current-year prices b. ... (Read 69 times)

ec501234 · **on:** Jun 30, 2018

Nominal gross domestic product (GDP) is measured in terms of the _____.
a. current-year prices
b. base-year prices
c. export of goods and services
d. amount of taxes collected
e. hours of employment

Question 2

A monopsonist can pick the ____, while a monopolist can pick ____.
a. the price it will charge; the wage it will pay
b. the wage it will pay; the price it will charge
c. the market price for its output; the quantity it will produce
d. marginal product of labor; the marginal cost of labor
e. number of competitors; the number of buyers