To Keep Track of Long-Run Growth and Short-Run Fluctuations, Economists

question 10

Multiple Choice

To keep track of long-run growth and short-run fluctuations, economists will look at statistics such as:

• A)interest rate and, stock market prices.
• B)stock market prices only.
• C)inflation, expected rate of returns on investments.
• D)real and nominal GDP, unemployment and inflation rates.

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Definitions:

Total Fixed Cost

the sum of all costs that remain constant regardless of the level of production or business activity.

Weekly Cost

Expenses calculated on a weekly basis, tracking the regular outflow of cash for operations or living expenses.

Total Costs

The sum of all expenses incurred by a business in the production of goods or services, including fixed and variable costs.

Output

The amount of goods or services produced by a company, industry, or economy within a specified period.