Refer to the information provided in Table 21.4 below to answer the question(s) that follow. Table 21.4
Refer to Table 21.4. The value for GNP in billions of dollars is
A. 900.
B. 930.
C. 980.
D. 1,010.
Answer: B
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If output increases by 5 percent and population growth is 3 percent, per capita output grows by about:
A. 8 percent. B. 3 percent. C. 2 percent. D. 5 percent.
For any competitive labor market, what change would have to occur to cause the labor supply to increase and shift the supply curve right?
A. Opportunity cost of work decreases B. Number of firms increases C. Number of workers decreases D. Opportunity cost of work increases
The financing of a government deficit increases interest rates and, as a result, reduces investment spending. This statement describes:
A. the net export effect. B. the crowding-out effect. C. the supply-side effects of fiscal policy. D. built-in stability.
A country that is limiting imports of a good by allowing only a certain number to be imported is using
A. buy "American advertising." B. non-tariff regulatory barriers. C. quotas. D. tariffs.