In the reservoir analogy of stock and flow for the economy:
A. Gross investment is an outflow and depreciation is an inflow
B. The stock of capital is an outflow and depreciation is an inflow
C. Net investment is an inflow and the stock of capital is an outflow
D. Gross investment is an inflow and depreciation is an outflow
D. Gross investment is an inflow and depreciation is an outflow
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Which of the following is included in Germany's GDP?
i. BMWs produced in a German-owned factory in South Carolina ii. the value of the stocks sold on the German stock exchange, the Frankfurt Stock Exchange iii. china produced by the English-owned Wedgewood Company at a factory in Berlin, Germany A) i and iii B) ii only C) iii only D) i and ii E) None of the above answers is correct.
Which of the following is an example of a normative statement?
A. The American Recovery and Reinvestment Act should not have been passed during the Great Recession. B. Unemployment soared to 25 percent during the Great Depression. C. An increase in alcohol taxes will reduce the number of drunk driving accidents. D. Great Britain has fewer hospital beds per capita today than they did in 1948.
Comparative advantage explains how two nations can benefit from trade
a. True b. False Indicate whether the statement is true or false
Congressman Smith and Congresswoman Johnson both consider themselves advocates for the national parks and are introducing different bills designed to benefit the parks. Congressman Smith's bill calls for an increase in the entrance fees. Congresswoman Johnson's bill calls for a decrease in the entrance fees. Which of the bills would be more effective at ensuring the quality of the national parks?
a. Congressman Smith's bill because it will reduce the overuse of the parks b. Congresswoman Johnson's bill because more visitors means more citizens will value and care for the parks c. Both bills would be equally effective. d. Neither bill would be effective.