Real GDP in a small country is worth $8 billion. The population of the country is 200,000. What is per capita Real GDP?
A) $30,000
B) $40,000
C) $60,000
D) $300,000
B
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The textbook defines a "large" business as having assets in excess of
A) $50 million. B) $150 million. C) $500 million. D) $1 billion.
Which of the following contributed to the collapse of the Bretton Woods system?
a. chronic U.S. trade surpluses b. fixed exchange rates c. an insufficient gold supply d. West Germany's allowing the dollar to float against the mark e. West Germany's not wanting the dollar to appreciate
Maria owns a used car lot. One common complaint she gets from customers is that they do not know what might be wrong with a car on the lot. In order to combat this problem and still make money, what can Maria do?
a. Make sure she does not mention any faults or defects a car may have. b. Offer a voucher for a free mechanical inspection if an offer is made on a car. c. Lower all of her prices to the price expected to be paid for a lemon. d. Raise all of her prices to the price expected to be paid for a premium car.
Suppose John is a conservative and the economy is in a recession. Which fiscal policy does he recommend?
a. increase taxes b. decrease taxes c. increase G spending d. decrease G spending e. increase the money supply