The opportunity cost of doing something can be defined as the value of the next-best alternative
Indicate whether the statement is true or false
TRUE
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About how much U.S. and European trade is intra-industry?
a. 40% b. 50% c. 60% d. 70%
What is meant by a final good or service as opposed to an intermediate good or service? Why are only final goods and services included in the calculation of GDP?
You save $10 on gas every week because you take the bus to school. You have class 5 days a week. What is your average benefit per day of taking the bus to school?
A. $0 B. $5 C. $2 D. $10
In Country A, the marginal propensity to consume is ½, and in Country B, it is ¾. What does this tell us about the multipliers for these countries?
a. Country A has a larger multiplier than Country B. b. Country B has a larger multiplier than Country A. c. Both countries have the same multiplier. d. Country B will start with a larger multiplier and end with a smaller one.