If GNP is $10,000 and depreciation is $2,000, what is NNP?
a. $5,000
b. $8,000
c. $12,000
d. $20,000
b. $8,000
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If it costs you $60 to produce 3 widgets and $64 to produce 4 widgets, the marginal cost to you of producing a 4th widget is
A) $62. B) $20. C) $18. D) $6. E) $4.
Real income in yearX equal to:
a. x 100 b. c. x 100 d. yearX nominal income x CPI.
In the simple Keynesian model, the aggregate supply curve has a horizontal segment at levels of output below the level of natural Real GDP and a vertical segment at the level of natural Real GDP
Indicate whether the statement is true or false
An example of a tariff is a:
A) limit on the total number of Honda automobiles imported from Japan. B) regulation specifying that each imported Honda automobile must meet certain emission exhaust guidelines. C) tax of $500 on each Honda automobile produced in the United States. D) tax of 10 percent of the value of each Honda automobile imported from Japan.