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Woodrow Call, who enjoys a good philosophical discussion, ponders, “Which of the following is true?”

The “Hat Creek Cattle Company” wonders if when their products are sold, they are included in GDP.  They do some research and find that GDP is:

In a Keynesian cross (AS/AD) diagram, what name is given to the distance between an output level that is below potential GDP and the level of potential GDP?

__________is output counted two or more times as it travels through the stages of production. This is a danger that could overstate the size of the economy considerably.

For the neo-classical economist, why is productivity growth considered to be the most important factor in the AD/AS model?

The Dall sheep (a) curve represents which type of survivorship curve?

Which of the following applies to Parkinson’s disease?

The observation that in interactions between complete competitors, one species is driven to extinction is known as ______.

Lorena Wood, reads in the new edition of her economics textbook that: In an AD/AS model

_________ represent the largest single component of the demand side of United States GDP, representing over half its value.