In the calculation of GDP by the expenditure approach, exports from the United States must be
A) subtracted because they are included in the consumption of a foreign country.
B) ignored because they are not bought by U.S. citizens.
C) subtracted if they are bought by foreign firms for investment purposes.
D) added.
D
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Which of the following must occur as a result of ceilings on apartment rents that are set below market clearing rental rates?
A) Property owners respond to the ceilings by increasing maintenance and repairs. B) Property owners respond to the ceilings by constructing new apartment buildings. C) There is a decrease in the quantity of apartments that prospective tenants wish to rent. D) There is a decrease in the quantity of apartments that property owners offer for rent.
The collection of rent by landlords was opposed by
A. Pierre-Joseph Proudhon. B. Henry George. C. both Henry George and Pierre-Joseph Proudhon. D. neither Henry George nor Pierre-Joseph Proudhon.
How long does it take for the rate to adjust when the Fed announces a change to its target for the federal funds rate?
A. The rate never fully adjusts because the Fed announces planned changes so frequently. B. Sometimes it adjusts before the Fed even takes any action. C. It can take several days or weeks for rates to fully adjust to announced changes from the Fed. D. The rate usually adjusts immediately after the Fed takes action to change the rate.
Expansions in globalization and the reduction of worldwide trade barriers during the 1980s and 1990s most likely had what effect on the demand for U.S. labor?
A. The demand for unskilled workers increased, while the demand for skilled workers decreased. B. The demand for unskilled and skilled workers increased. C. The demand for unskilled workers increased, while the demand for skilled workers did not change. D. The demand for unskilled and skilled workers decreased. E. The demand for unskilled workers decreased, while the demand for skilled workers increased.