Which of the following would be included in Gross National Product (GNP) but not in Gross Domestic Product (GDP)
What will be an ideal response?
the earnings of an American-owned factory in Germany
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An overvalued exchange rate is an exchange rate:
A. at which the quantities of currencies demanded and supplied in the foreign exchange market are equal. B. that equals the number of units of a foreign currency over the number of units of domestic currency. C. that has an officially fixed value less than its fundamental value. D. that has an officially fixed value greater than its fundamental value.
Exhibit 10-1A perfectly competitive producer has the following short-run average cost curve and marginal cost curve:SR AC = 2Q + 3MC = 4Q + 3where costs are measured in dollars and Q represents the firm's output in units. If the market price of wangdoodles is $15 each, the profit-maximizing producer whose short-run cost curves are given in Exhibi should produce ____ wangdoodles.
A. 0 B. 3 C. 6 D. 15
When (if at all) are budget deficits inflationary?
a. when AS is perfectly horizontal b. when AS has a very steep slope c. when AS has a downward slope d. when AS intersects AD
If the exchange rate is 12.5 pesos per U.S. dollar, it is also 1/12.5 U.S. dollars per peso
a. True b. False Indicate whether the statement is true or false