International comparisons of Gross National Income using the concept of purchasing power parity are based upon the
A. relative cost of purchasing a similar market basket of goods.
B. relative stock market values in the different countries.
C. Gini Index of income disparity in the different countries.
D. national unemployment rates in the different countries.
Answer: A
You might also like to view...
A special license is required to operate a taxi in many cities. The number of licenses is restricted. More drivers want licenses than are issued. This describes a non-perfectly competitive market because
A) taxi services are very different. B) firms cannot freely enter and exit the market. C) transaction costs are high. D) the government generates revenue from the licenses.
To be binding, a price floor must be set above the equilibrium price
a. True b. False Indicate whether the statement is true or false
Suppose you live in New York City and the government has imposed price ceilings on apartment rental rates. You want to rent an apartment from Smith, who says that unless you buy the furniture in the apartment for $4,000, he cannot rent the apartment to you. The condition of buying the furniture could be considered
A) a price ceiling. B) a price floor. C) a tie-in sale. D) to be something no renter would agree to. E) c and d
Refer to the graph below.
The graph indicates that as more eggs are produced, the marginal opportunity cost of:
A. eggs increases while the marginal opportunity cost of rye decreases. B. eggs decreases while the marginal opportunity cost of rye remains constant. C. eggs increases while the marginal opportunity cost of rye remains constant. D. both eggs and rye increases.