2) An econmy’s total output

  1. 2) An econmy’s total output divided by the total population is called:a- gross national product b- circular flow** c- GDP per
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  2. If the total costs of producing 1,500 units of output is $12,000 and this output sold to consumers for a total of $15,000, then
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  3. A company manufacturing surfboards has fixed costs of $300 per day andtotal costs of $5100 per day for a daily output of 20
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  4. a company maufacturing surfboards has fixed costs of $300 per day and total costs of $5100 per day for a daily output of 20
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  5. What is one way that labor productivity can be calculated?(1 point)Responses Total Output−Hours WorkedHours Worked
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  6. Specialization and trade leads to all of the following EXCEPT _________________________________.A decline in total economic
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  7. The Burr Corporation’s total cost function (where TC is the total cost in dollars and Q is quantity) is TC = 200 + 4Q + 2Q^2a.
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  8. 1. The Omnibus Corporation finds that its daily costs are $50 when it produces no output. Its total variable costs (TVC) change
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  9. Inflation is best described as _____.(1 point)Responses a downward trend in total economic output a downward trend in total
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  10. What is the best description of GDP per capita?A. an economy's total output divided by its total population B. an economy’s
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