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svetlana [45]
3 years ago
14

Your parents surprise you with a $500 check. as a result, the u.s. gdp decreases because you have to pay taxes on this income. r

emains unchanged because it was counted when your parents earned it. decreases because you will spend it on useless goods. increases because this is unexpected income to you.
Business
1 answer:
Sidana [21]3 years ago
3 0
I believe that the $500 cheque from your parents has already been counted when it was earned and therefore would neither increase or decrease GDP. GDP is defined basically as  a bulk measure of production that is equal to the sum of all gross values of all units involved in production.
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Assume that the market for corn is perfectly competitive. Currently, firms growing corn are generating losses. In the long run,
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<h3>What is perfectly competitive market?</h3>

According to economic theory, perfect competition exists when all businesses sell the same goods, market share has no bearing on prices, businesses can enter or quit the market without any obstacles, consumers have perfect or complete information, and businesses are unable to set prices.

There are five characteristics that have to exist in order for a market to be considered perfectly competitive. The characteristics are -

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To know more about; Why is perfect competition the best form of market structure?, here

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