The most comprehensive measure of aggregate output is
A) gross domestic product.
B) net national product.
C) the stock value of the industrial 500.
D) national income.
A
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According to this Application, international statistics show that the developing countries are ________ and the developed countries are ________
A) creditors; creditors B) creditors; debtors C) debtors; debtors D) debtors; creditors
Which of the following is not a cost of inflation identified by economists?
a. menu costs associated with more frequent adjustment of prices b. confusion and inconvenience resulting from a changing value of the unit of account c. reduced price flexibility d. arbitrary redistributions of wealth associated with dollar-denominated debts
Economies of scale exist where the long-run average cost curve is
A) horizontal. B) downward sloping. C) upward sloping. D) tangent to the marginal cost curve.
If the United States exports $250 billion worth of goods and imports $420 billion worth of goods
A. the balance of payments will be -$170 billion. B. the balance of trade will be $670 billion. C. the official reserve transaction will be $170 billion. D. the balance of trade will be -$170 billion.