GNP converted into dollars using an average exchange rate over several years adjusted for rates of inflation is
A. real national product.
B. gross domestic product.
C. net national product.
D. gross national income.
Answer: D
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If neither the demand nor supply of a good is perfectly elastic or inelastic, a tax on the good ________ consumer surplus and ________ producer surplus
A) decreases; decreases B) increases; increases C) decreases; increases D) increases; decreases E) decreases; does not change
The IS curve will shift to the right if:
a. the government deficit decreases. b. consumer confidence decreases. c. the MPC decreases. d. taxes decrease. e. the money supply increases.
When a firm uses a form of quantity discrimination it is the high quantity purchasers that generate most profit
Indicate whether the statement is true or false
The ____ method assumes that the cash flows over the life of the project are reinvested at the ____
a. net present value; computed internal rate of return b. internal rate of return; firm's cost of capital c. net present value; firm's cost of capital d. net present value; risk-free rate of return e. none of the above