Gross domestic product (GDP) is
A. the sum of consumption expenditure, investment, government expenditure on goods and services, and net exports.
B. the value of all final goods and services produced in a country during a year.
C. All of these.
D. the sum of compensation of employees, proprietors' income, net interest, rental income, corporate profits, depreciation, and indirect business taxes minus subsidies
Answer: C. All of these.
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Refer to Figure 10.2. Which line represents earnings?
A. a
B. b
C. c
D. h
In the period of 1979 to 1982, if the Fed had set an interest rate target that was equal to the actual market interest rates that occurred, the:
A. target would have been a federal funds rate of zero percent. B. economy would have been better off. C. target would not have been politically acceptable. D. inflation rate would have risen further.
During economic fluctuations, individual markets usually move in different directions.
Answer the following statement true (T) or false (F)
An export trading company (ETC) works with many manufacturers rather than representing a single manufacturer.
a. true b. false