Gross domestic product (GDP) is the total market value of the final goods and services produced by an economy in a one-year period.
Answer the following statement true (T) or false (F)
True
See the definition of GDP in the textbook.
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The advantage of an effective exchange rate is
A) it gives us an accurate gauge for the strengthening or weakening of a currency. B) it uses a weighted average of bilateral exchanges based on the country's trading partners. C) unreliable because its using different weights to reflect trade flows. D) A and B.
Borrowing from another country that occurs when the country has a trade deficit and its citizens sell real and financial assets to foreigners is called a capital inflow
Indicate whether the statement is true or false
What happened after the failure of the Bank of the United States in late 1930?
a. The stock market experienced a major crash. b. The FDIC stepped into cover deposits. c. People converted currency into deposits. d. Many banks stopped lending excess reserves.
An individual's demand curve for X
A. shows how the individual's preferences change as the consumer income changes. B. shows how the utility-maximizing choice of X changes as the price of X changes. C. shows how the individual's preferences change as the price of X changes. D. both a and b E. both a and c