The gold standard established fixed exchange rates among all countries
a. True
b. False
Indicate whether the statement is true or false
True
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During 2008, Swaziland had a real GDP growth rate of 1.8 percent and a real GDP growth rate per person of -1.3 percent. These rates indicate that in Swaziland
A) the population grew at a faster rate than real GDP. B) real GDP grew more rapidly than did the population. C) there was an error when calculating the growth rates because the growth rate of real GDP per person cannot be negative. D) poverty levels are declining. E) the population growth rate was negative.
Total spending on final goods and services in an economy must equal total:
A. production value. B. revenues from all transactions. C. profits. D. investment.
Table 35.1CountryTons of SoybeansComputerChina100300United States150750Based on the information in Table 35.1, assume China and the United States have the same amount of resources with which to produce soybeans and computers and they produce no other goods. The output of computers and soybeans would be greatest if
A. Both countries prohibited trade. B. China specialized in producing soybeans, and the United States specialized in producing computers. C. The United States produced both goods and exported them to China. D. China specialized in producing computers, while the United States specialized in producing soybeans.
If a country imposes a $10 tariff on a foreign monopolist, the domestic price will rise by:
a. more than $10. b. $10. c. less than $10. d. $0.