Monetary and price instability will
a. make it easier for both individuals and businesses to plan wisely for the future.
b. generate uncertainty, and encourage investors and businesses to move their activities to countries with a more stable monetary environment.
c. encourage businesses to invest and expand their future output.
d. encourage domestic citizens to increase their rate of saving.
B
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What is the approximate percent of GDP produced by private firms in the United States?
a. 4 percent b. 11 percent c. 25 percent d. 57 percent e. 75 percent
GDP is: a. the value of all final goods and services produced domestically within a given period of time
b. the value of all final good and services produced anywhere in the world by a nation's firms within a given period of time. c. the value of all final goods and services produced by a government within a given period of time. d. the sum of all currency and coins in circulation.
The concept of economies of scale becomes especially relevant to international trade when it enables
a. numerous small producers to supply the entire country. b. one or two large producers to supply the entire country. c. numerous large producers to supply the entire country. d. one or two small producers to supply the entire country.
A change in one input price will cause the slope of the budget line to change
a. True b. False Indicate whether the statement is true or false