Madison, a U.S. citizen, works only in Germany. The value she adds to production in Germany is included
a. in U.S. GDP, but it is not included in German GDP.
b. in German GDP, but it is not included in U.S. GDP.
c. in both German GDP and U.S. GDP.
d. in neither German GDP nor U.S. GDP.
B
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The figure above shows a perfectly competitive firm. When the firm maximizes its profit, its total revenue is
A) $1,200. B) $900. C) $600. D) unable to be determined without more information.
How do oligopolistic firms that sell differentiated products determine their prices?
What will be an ideal response?
When the WTO met in Seattle to initiate a further move towards free international trade, thousands of activists met
A) in order to promote the WTO's goals of "Trade-not Aid." B) in order to laud the WTO policy orientation which would bust local monopolies and therefore help ordinary relatively poor consumers everywhere. C) in order to laud the WTO policy of disallowing government sweetheart deals, which typically meant that corrupt governments subsidized their in-laws' conglomerates on the backs of poor taxpayers. D) in order to support the WTO efforts of bringing about a universal shift of resources in poor countries to higher efficiency and productivity uses, which would raise the real incomes of everyone. E) in order to protest WTO free trade policies that they believed hurt workers.
If the interest rate is 8 percent, then the present value of $1,000 to be received in 4 years is $735.03
a. True b. False Indicate whether the statement is true or false