Debbie Black played professional basketball for 8 years in Australia before returning home to America in 1996 to join the newly formed American Basketball League as a player for the Colorado Xplosion. Her 1995 earnings as a player in Australia were counted as part of
a. America's GDP and Australia's GDP
b. America's GNP and Australia's GDP
c. America's GDP and Australia's GNP
d. America's GNP and Australia's GNP
e. America's GNP but were not counted in Australia
B
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Markets in which funds are transferred from those who have excess funds available to those who have a shortage of available funds are called
A) commodity markets. B) fund-available markets. C) derivative exchange markets. D) financial markets.
One reason why an economy may not smoothly adjust to a macroeconomic shock is that
A) prices are flexible in the long run. B) prices are sticky in the short run. C) wages are sticky in the long run. D) prices and wages are sticky in the long run.
On January 12, 2011, one U.S. dollar was worth 0.78 euros. How many U.S. dollars did it take to buy one euro?
a. 0.78 b. 1.28 c. 1.43 d. 1.70
Kauri’s country is building new factories to help increase the country’s production of woolen cloth. What is Kauri’s country investing in?
a. technology b. human capital c. natural resources d. physical capital