The earliest and simplest form of international business is _____.
a. mercantilism
b. government
c. trade
d. tariffs
e. none of the above
c. trade
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The broadest measure of the price level that includes all final goods and services is
A) the consumer price index. B) the producer price index. C) the wholesale price index. D) the GDP deflator.
Suppose that real GDP for 2015 was $10,000 billion and real GDP for 2016 was $9,500 billion. What is the rate of growth of real GDP between 2015 and 2016?
A) -10% B) -5% C) -2% D) -1%
The standard of living in a country can be best measured by:
Daniel’s Designer Drapes sells its standard curtain sets for $100. The government has just imposed a new tax on Daniel’s products. Which of the following would most likely be the price for a standard curtain set after this tax takes effect?
a. $50 b. $99 c. $100 d. $110