Gross Domestic Product (GDP) is the total market value of all
A) final goods and services produced annually within a country's borders.
B) final and intermediate goods and services produced annually within a country's borders.
C) intermediate goods and services produced annually within a country's borders.
D) final goods produced every month within a country's borders.
A
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Which of the following would be part of the nation's current account?
A) An old house purchased by an American in Italy B) The purchase of a U.S. Treasury bond by a foreigner C) The interest an American earns on a British bond D) A factory built by the Japanese in the United States
Explain why the long-run average cost is typically U shaped.
What will be an ideal response?
"There is a direct relationship between economic growth rates and the wealth of a nation." Do you agree or disagree? Why?
What will be an ideal response?
Explain how interest rates and bond prices are related to one another. Why is this important for monetary policy?