Gross national product (GNP) of the United States is the value of all final goods and services
A) produced anywhere in the world by residents of the United States.
B) produced in the United States by residents of any nation.
C) produced and consumed within the United States.
D) produced anywhere in the world, but consumed by residents of the United States.
A
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A monopoly firm is a ______________ and faces a __________ sloping demand curve
a. Price taker; horizontal b. Price searcher; horizontal c. Price searcher; downward d. Price taker; downward
A company can have exchange rate exposure
A) even if it does not have foreign holdings. B) only if it has foreign holdings. C) under a fixed exchange rate regime and not under a flexible exchange rate regime. D) none of these choices.
People living in different countries can benefit from international trade because
a. different countries use different currencies. b. trade makes it possible for the residents of different countries to specialize in the production of those things they do best. c. trade makes it possible for people to acquire goods from foreigners cheaper than they could be produced domestically. d. both b and c are correct. e. all of the above are correct.
If all taxpayers pay the same percentage of income in taxes, the tax system is progressive
a. True b. False Indicate whether the statement is true or false