The average growth rate of output in the U.S. economy since 1900 has been
A. 2.4%.
B. 3.3%.
C. 6.3%.
D. 10.5%.
Answer: B
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The U.S. dollar will depreciate if the Canadian inflation rate falls from 5 percent to 3 percent
Indicate whether the statement is true or false
As opposed to GDP, GNP tries to measure
A) the happiness of a nation. B) the value of all intermediate goods produced in a nation. C) the economic performance of a nation's citizens regardless of where they happen to be producing. D) the economic performance of a country's economy regardless of the nationality of the producers.
The price elasticity of supply measures how responsive
a. equilibrium price is to equilibrium quantity. b. sellers are to a change in buyers' income. c. sellers are to a change in price. d. consumers are to the number of substitutes.
If consumer preference for a product increases, this will cause the equilibrium price of the product to go down, and the equilibrium quantity of the product to go up.
Answer the following statement true (T) or false (F)