If consumption = $2,000, investment = $600, government purchases = $500, net exports = ?$40, transfer payments = $340, then _____
a. GDP = $2,720
b. GDP = $3,060
c. GDP = $3,140
d. GDP = $3,400
e. GDP = $3,340
b
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The efficiency
A) gain from a fixed exchange rate with the euro is smaller when trade between say, Norway and the euro zone, is extensive than when it is small. B) gain from a fixed exchange rate with euro is greater when trade between say, Norway and the euro zone, is extensive than when it is small. C) loss from a fixed exchange rate with the euro is smaller when trade between say, Norway and the euro zone, is extensive than when it is small. D) gain from a fixed exchange rate with euro is the same as when trade between say, Norway and the euro zone, is extensive than when it is small. E) gain from a fixed exchange rate with euro is the same as when trade between say, Norway and the euro zone, is small than when it is small.
The nonrivalrous character of technological ideas suggests that ________
A) patent law protection is ultimately inefficient B) technological change follows a logarithmic pattern C) technology developed in one industry, e.g. the vodka industry, cannot be used in another industry, e.g. the automobile industry D) ideas can be used over and over again
Refer to Figure 9.8. In order to gain the equivalent imports as a $50 tariff, the government would have to impose a quota of
A) 100 tons of sugar. B) 200 tons of sugar. C) 300 tons of sugar. D) 350 tons of sugar. E) 500 tons of sugar.
When firms in a U.S. industry outsource some of their production,
A) both U.S. labor demand and U.S. wages in the industry fall B) U.S. labor demand falls, but U.S. wages are not affected. C) U.S. labor demand remains unchanged, but U.S. wages fall. D) U.S. labor demand falls, but U.S. wages increase.