General Motors Corporation (a U.S.-based firm) produces a Saab vehicle in Sweden, and sells it in the United States. In which country's GDP is it included?
a. Sweden and the United States
b. The United States because it was sold there
c. The United States because GM is a U.S. company
d. Sweden because it was produced there
d
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Which of the following factors is NOT part of the budget equation?
A) relative prices B) real income C) quantities of goods D) preferences
Perfectly competitive markets feature relatively high barriers to entry.
Answer the following statement true (T) or false (F)
What are the prerequisites for money creation?
Which of the following is true of perfect price discrimination?
a. A monopolist engages in perfect price discrimination when it cannot identify the minimum price the buyer is willing and able to pay. b. A monopolist engaging in perfect price discrimination targets only the groups that are price sensitive c. A monopolist engaging in perfect price discrimination produces the same output level as under perfect competition. d. A monopolist engages in perfect price discrimination when it is able to charge different prices to distinct customers based upon variances in willingness to pay.