Harry's Pizza Parlor Produced 10,000 Large Pizzas Last Year That

question 64

Multiple Choice

Harry's Pizza Parlor produced 10,000 large pizzas last year that sold for $10 each.This year Harry's produced 11,000 large pizzas (identical to last year's pizzas) but sold them for $12 each.Based on this information, we can conclude that Harry's production of large pizzas

• A)increased nominal GDP from last year, but real GDP was unaffected.
• B)increased both nominal and real GDP from last year.
• C)increased real GDP from last year, but nominal GDP was unaffected.
• D)did not change either nominal or real GDP from last year.

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Definitions:

African-American Workers

Refers to individuals of African descent in the United States who are part of the labor force, often highlighting their unique historical and socio-economic experiences.

Discrimination Coefficients

Metrics used in econometrics and statistical analyses to measure the extent of discrimination or bias present in a model or decision-making process.

Wage Rate

The amount of money paid to an employee per unit of time, such as an hour or week, for their work services.

Racial Prejudice

A bias against individuals based on their race, often manifesting in negative attitudes or unfair treatment.