Which of the following is NOT one of the components for computing GDP based upon the income approach?
A) investment
B) corporate profits
C) compensation of employees
D) net interest
A
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OPEC, the Organization of Petroleum Exporting Countries, was formed in Baghdad in 1960. Since its formation, this cartel has suffered from a major problem with respect to the quota (limit) of output it assigns each member nation
What is OPEC's goal and what sort of quota do you think the cartel assigns? How and why do nations cheat on their quota? What happens when a nation cheats on its quota?
The excess reserves ratio is ________ related to expected deposit outflows, and is ________ related to the market interest rate
A) negatively; negatively B) negatively; positively C) positively; negatively D) positively; positively
Gordon James is a person who sells narcotics "on the street." This type of illegal activity:
A. is excluded from GDP figures. B. would be considered double counting in calculating GDP. C. causes GDP to be overstated. D. is estimated and included in GDP figures.
The figure below illustrates the impact of an export subsidy as imposed by a large country. No imports are permitted.
The production effect of the export subsidy is shown by area(s)
A. (d + i + j). B. d. C. b. D. (b + f + g).