Definition: this is a financial institution that manages investments, assets, and records for another institution. they may be an independent partnership, bank or law firm.

A TRUST is a financial institution that is set up to manage the investments, assets, and records of another institution. A trust may be an independent partnership, a bank or law firm. The institution whose investments, assets and record are being managed is known as the grantor.

answer(b) gdp is not affected by

scott's production of the jewelry box;

answer: in the short-run firms will respond by raising the price of turkey.

explanation: initially the long-run equilibrium is at a price of $5 per pound of turkey and a quantity of 50 million pounds per year. now, when webmd claims that a protein found in turkey will increase your expected lifespan by 4 years. the consumers demand for turkey will increase at every price shifting the demand curve to the right from d1 to d2. while, there will be no change in the supply curve in the short-run as it is not possible for producers to adjust supply so quickly. as a result the new equilibrium will occur at a higher price and a higher quantity of turkey.

thus, in the short run firms will respond by increasing the price of turkey, selling more quantity at a higher price and earning economic profits.