Mexican imports of U.S. goods:
A. create a supply of pesos.
B. create a supply of dollars.
C. reduce the demand for dollars.
D. have no effect on the peso-dollar exchange rate.
A. create a supply of pesos.
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A nation's nominal gross domestic product (GDP) ________.
A. is always some amount less than C + I + G + NX B. is the dollar value of all final output produced by its citizens, regardless of where they are living C. can be found by summing C + I + S + NX D. is the dollar value of all final output produced within the borders of the nation during a specific period of time
Refer to the scenario above. If the local government has a progressive tax system, which family pays the largest amount as tax?
A) The first household B) The second household C) The third household D) The fourth household
Banks act as:
A. an organizer among firms in a specific market. B. intermediaries between borrowers and savers. C. informants to various buyers about prices and contracts. D. a negotiator for buyers.
If a nondiscriminating pure monopolist decides to sell one more unit of output, the marginal revenue associated with that unit will be:
A. equal to its price. B. the price at which that unit is sold less the price reductions that apply to all other units of output. C. the price at which that unit is sold plus the price increases that apply to all other units of output. D. indeterminate unless marginal cost data are known.