The residents of Ireland earn $200 million of income from abroad. Residents of other countries earn $300 million in Ireland. Therefore, Ireland's
a. net factor payments from abroad are positive, and its GDP is larger than its GNP.
b. net factor payments from abroad are positive, and its GNP is larger than its GDP.
c. net factor payments from abroad are negative, and its GDP is larger than its GNP.
d. net factor payments from abroad are negative, and its GNP is larger than its GDP.
c
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Which of the following statements is true?
A. There was a great deal of stagflation in the 1930s. B. The inflation rate fell during the Eisenhower Administration, but rose during the Reagan years. C. Output in the United States fell by about one-third between 1929 and 1933. D. The Medicare and Medicaid programs were inaugurated during the New Deal.
What are transfer payments?
What will be an ideal response?
Which of the following statements about economic analysis is true?
A) Unlike positive economic analysis, normative economic analysis can be tested. B) There is much more disagreement among economists over normative economic analysis than over positive economic analysis. C) Normative economic analysis is concerned with "what is," whereas positive economic analysis is concerned with "what ought to be." D) Economics is primarily about normative analysis, which measures the costs and benefits of different courses of action.
What happens to standards of living over time with stagnant economic growth rates?
a. steady growth b. little change c. regulatory control d. notable decrease