Examlex
Which of the following equations will always represent GDP in an open economy?
Economic Efficiency
A condition in which resources are allocated in the most effective way possible, maximizing outputs from given inputs without waste.
Allocative Efficiency
A state of resource allocation where goods and services are distributed according to consumer preferences, reflecting an optimal distribution of resources.
Producer Surplus
The gap between the minimum amount sellers are prepared to accept for a product or service and the actual price it sells for.
Negative Externalities
Costs that result from an activity or transaction and affect third parties who did not choose to incur that cost.
Q32: If you put $400 into a bank
Q55: A corporation's earnings are the amount of
Q57: Suppose you win a small lottery and
Q83: Which of the following equations represents GDP
Q86: Other things the same,as the maturity of
Q91: Consider the expressions T - G and
Q105: According to research by Robert Fogel,what proportion
Q107: Which advantage(s)do mutual funds claim to provide?<br>A)diversification
Q140: If the interest rate is 7.5 percent,then
Q159: If Canada goes from a large budget