When calculating GDP, exports are ________ and imports are ________.
A. added; added
B. added; subtracted
C. subtracted; subtracted
D. subtracted; added
Answer: B
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If a country's currency ________ the dollar, its exchange rate is fixed
A) is exchanged in currency markets for B) has a floating exchange rate value which is equal to C) depreciates against D) is pegged to
During the 1960s, when confronted with moderate and stable inflation, people tended to form adaptive expectations of future inflation rates
Indicate whether the statement is true or false
When a business has implicit costs
A) economic profits are greater than accounting profits. B) economic and accounting profits are the same. C) economic profits are less than accounting profits. D) economic costs are the same as accounting costs.
Which of the following will cause an increase in the demand for the Venezuelan currency, the Venezuelan bolivar?
A) real interest rates in Venezuela fall B) U.S. residents change preferences in favor of goods produced in the United States C) real interest rates in the United States increase D) none of the above