As opposed to GDP, GNP tries to measure
A) the happiness of a nation.
B) the value of all intermediate goods produced in a nation.
C) the economic performance of a nation's citizens regardless of where they happen to be producing.
D) the economic performance of a country's economy regardless of the nationality of the producers.
C
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A recent purchaser of a bond that agrees to pay an annual nominal amount would hope that interest rates do not rise
Indicate whether the statement is true or false
The law of diminishing marginal utility states that total utility will increase at a decreasing rate as additional units of a commodity are acquired
a. True b. False Indicate whether the statement is true or false
Congress passes a tax cut because economists predict a coming recession. This is an example of what?
a. Automatic stabilization. b. Active fiscal policy. c. Discretionary monetary policy. d. Non-discretionary monetary policy. e. none of the above.
Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y2. C. P3 and Y1. D. P2 and Y3.