Not all in-kind transfers represent an improved standard of living
Indicate whether the statement is true or false
T
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Suppose that Apple computer buys computer components for $10,000 and uses them to make ipods that they sell to Best Buy for $30,000 . Best Buy sells these ipods for $32,000 . As a result, GDP has risen by:
a. $22,000 b. $2,000 c. $20,000 d. $32,000
A fall in the value of the dollar relative to other currencies will:
A. decrease foreign demand for U.S. goods, shifting the U.S. aggregate demand curve to the right. B. increase foreign demand for U.S. goods, shifting the U.S. aggregate demand curve to the left. C. increase foreign demand for U.S. goods, shifting the U.S. aggregate demand curve to the right. D. decrease foreign demand for U.S. goods, shifting the U.S. aggregate demand curve to the left.
Which of the following would most likely generate a negative externality?
A. Employment B. A lighthouse C. Cigarette smoke D. Education
Which of the following will most likely cause a decrease in the quantity of money demanded?
A. a decrease in the interest rate B. an increase in nominal income C. an increase in the interest rate D. an increase in the price level