An automobile manufacturing plant opens in Alabama, and its owner, all of the workers, and all raw materials are from Japan. How would the purchase of an automobile from this plant change U.S. GDP and GNP?
a. It would increase GNP and GDP.
b. It would increase GNP and leave GDP unchanged.
c. It would increase GDP and leave GNP unchanged.
d. It would leave both GDP and GNP unchanged.
C
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Assuming all else equal, a decrease in the real interest rate will cause:
A) an upward movement along the credit supply curve. B) a downward movement along the credit supply curve. C) the credit supply curve to shift to the right. D) the credit supply curve to shift to the left.
By the study of "scarcity," an economist means how we best utilize our: a. limited resources in order to promote full employment and price stability. b. unlimited desires in order to best use our unlimited resources
c. unlimited resources to best satisfy our unlimited desires. d. limited resources in order to best satisfy our unlimited desires.
Thomas Malthus believed that in the long run, the growth rates of real GDP would not exceed population growth
a. True b. False Indicate whether the statement is true or false