Suppose that a German citizen crosses the border each day to work in Switzerland. Her income from this job would be counted in:
a. Swiss GNP and German GNP.
b. Swiss GNP and German GDP.
c. Swiss GDP and German GNP.
d. Swiss GDP and German GDP.
Ans: c. Swiss GDP and German GNP.
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If the prices of goods and services were expressed in terms of carved wooden beads, then the carved wooden beads would be serving as a
A) store of value. B) medium of exchange. C) mechanism for transforming present purchases into future purchases. D) unit of account.
Krystal runs a nail salon and needs to decide how many hours to stay open. Table 2.2 illustrates her marginal costs of staying open for each additional hour. Suppose that we observe Krystal staying open 2 hours per day
If she is following the marginal principle, what must her marginal benefit be? A) $6 B) $12 C) $15 D) $18
Which of the following is a topic studied in macroeconomics?
A. Unemployment rates over time B. Taxation strategies of major corporations C. Gasoline price changes D. Consumer participation in Facebook
In 2008 if the poverty line had been set lower, the poverty rate would have been ________.
Fill in the blank(s) with the appropriate word(s).