The best measure of a country's standard of living is
A) total nominal GDP. B) GDP per unit of capital.
C) GDP per capita. D) GDP per labor hour.
C
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A fixed exchange rate is an exchange rate whose value:
A. is set by official government policy. B. varies according to supply and demand for the currency in the foreign exchange market. C. reflects the comparative advantage of the home country versus other foreign countries. D. is established annually by the International Monetary Fund.
When the rent is not permitted to allocate scarce housing, ______.
Fill in the blank(s) with the appropriate word(s).
Which of the following will lead to an increase in the demand for loanable funds in the US?
a. decrease in the real interest rate in the US b. increase in household saving c. an increase in US government borrowing d. an increase in the supply of loanable funds in other countries e. decrease in the supply of loanable funds in the US
Which of the following is a true statement?
A. The United States has the world's largest ratio of exports to GDP. B. The United States is almost entirely dependent on other countries in obtaining items such as silk, nickel, tin, and coffee. C. U.S. exports to China greatly exceed U.S. imports from China. D. Since 1947 the United States has accounted for a rising percentage of total world trade.