Answer:
The statement is: False.
Explanation:
The Gross Domestic Product or GDP is the metric that measures the performance of an economy over a period. The components of the GDP are private consumption, government expenses, investments, and net exports (exports minus imports).
Goods and services produced in previous periods are not considered in the GDP of the current period. Thus, in the case, <em>George's house revenue after the sale will not be part of the GDP. However, </em><u><em>the commission George has to pay to the real estate agent will be considered in the current year's GDP</em></u><em>.</em>
Answer:
crowding out new entrants
Explanation:
Based on the information provided it can be said that in this scenario the company is trying to create a barrier to entry by crowding out new entrants. This is a technique in which a company introduces various variations of a product into the market so that consumers are more likely to buy one of their products instead of another company's similar product.
Answer:
raises;larger;decrease;always.
Explanation:
Consider the relationship between monopoly pricing and the price elasticity of demand. If demand is inelastic and a monopolist raises its price, quantity would fall by a larger percentage than the rise in price, causing profit to decrease. Therefore, a monopolist will always produce a quantity at which the demand curve is elastic because he or she will be maximizing profits.
A monopolistic market is a type of market structure that is typically characterized by a single supplier or seller of a particular product without any competition from any other in the market. The features of a monopolistic market are;
- Single seller.
- Profit maximizer.
- Price maker.
- High barriers to entry for others.
- Price discrimination.
- No close substitutes or competition.
Answer:
A house's average sale price went up by $47,000 for each full bath.
Explanation:
A descriptive statistic describes the result of an study using quantitative terms. While a logical inferential statistic makes feasible predictions using the data described by the descriptive statistic.
For example, a study showed that 70% of men prefer to go to work in the morning (descriptive statistic). The study showed that men are more likely to search for jobs in the morning shift (logical inferential statistic).
Classical economists saw the depression as a political problem, because they believed labor unions were stopping the wage level from moving to the right level.
<h3>Classical economists</h3>
The Classical economists believe that the great depression experience was as a result of as a political problem.
The reason why they believe it was political problem was because they felt the labor unions who is the union responsible for fight for the right of workers were the one that stop or prevent the wage level from moving to the right level.
Therefore they believed that labor unions were stopping the wage level from rising.
Learn more about Classical economists here:brainly.com/question/419703
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