What is typically used for cross country comparisons of GDP?
a. purchasing power parity (PPP)
b. exchange rate
c. GDP per capita
d. GDP
a. purchasing power parity (PPP)
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The government has a budget surplus if
A) there is no national debt. B) tax revenue is greater than outlays. C) government outlays are greater than tax revenue. D) the budget is balanced. E) a fiscal stimulus is being used to combat a recession.
Mutual funds are a type of financial intermediary
a. True b. False Indicate whether the statement is true or false
An increase in the money supply decreases the interest rate in the short run
a. True b. False Indicate whether the statement is true or false
The firm maximizes economic profit by finding the rate of output at which total revenue ________ total cost ________
a. equals; all else constant b. plus; equals c. minus; equals zero d. exceeds; by the greatest amount.