To calculate GDP using the expenditure approach, in part it is necessary to
A) add imports and exports.
B) add imports and subtract exports.
C) add exports and subtract imports.
D) subtract both exports and imports.
C
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The "East Asian Miracle" is
A) the ability of so many people to live in such small areas. B) the fact that so many Influenza varieties originate from this region. C) the fact that poor dualistic economies managed to escape the vicious circle of poverty. D) the ability to maintain large positive trade balances with the U.S. E) the advent of completely free labor mobility between east Asian countries.
An official agreement with another country in which it agrees to import more from the United States is
A) a regional trade bloc. B) the quota system. C) a voluntary import expansion. D) a voluntary restraint agreement.
Marc puts prices on surfboards and skateboards at his sporting goods store. He is using money as a unit of account
a. True b. False Indicate whether the statement is true or false
Consider Figure 8.9. If David's payoff in the bottom rectangle were 40 instead of 70, the outcome of the game would be that:
A. both choose a high price. B. both choose a low price. C. Becky chooses a high price and David chooses a low price. D. David chooses a high price and Becky chooses a low price.