Question

1. which market structure has only one seller?
2. what does gdp measure?
3. what is inflation?
4. what is a recession?

Explanation:

Question 13

The market structure with only one seller is a monopoly. In a monopoly, there is a single firm that controls the entire market for a particular good or service, with significant barriers to entry preventing other firms from entering the market.

GDP (Gross Domestic Product) measures the total value of all final goods and services produced within a country's borders in a specific time period (usually a year or a quarter). It can be calculated using the expenditure approach ($GDP = C + I + G + (X - M)$ where $C$ is consumption, $I$ is investment, $G$ is government spending, $X$ is exports, and $M$ is imports), the income approach, or the production approach. It is a key indicator of a country's economic performance and the size of its economy.

Inflation is the sustained increase in the general price level of goods and services in an economy over a period of time. When inflation occurs, each unit of currency buys fewer goods and services, meaning the purchasing power of money decreases. It can be measured using indices like the Consumer Price Index (CPI) or the Producer Price Index (PPI), and is often expressed as an annual percentage change in the price level.

Answer:

Monopoly (the market structure with only one seller is a monopoly)

Question 14