Marginal cost is the change

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Reference no: EM131385516

1. If nominal GDP in a given year is $11,000 billion and real GDP is $10,000 billion, then the GDP Price Deflator is equal to

A. 1.1%

B. 110

C. 10%

D.0.90 or 90%

2. Marginal cost is the change in _____ cost resulting from a one-unit change in _____.

A. total; output

B. average; output

C. total; a variable input

D. total; average cost

Reference no: EM131385516

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