Gross domestic product represents the money value of all final goods and services produced in the domestic economy within the year.
Answer the following statement true (T) or false (F)
True
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Coca Cola and Pepsi, which together account for about 85 percent of the soft drink market, are best described as being in
A) a monopoly market. B) an oligopolistic market. C) a perfectly competitive market. D) a monopolistically competitive market.
In the economic literature on principal-agent problems, the ________ is the person who takes some action, and the ________ is the person whom the action affects
A) agent, principal B) principal, agent C) Both statements describe the agent. D) Both statements describe the principal.
Which of the following makes up the balance on current account?
a. The capital account, the merchandise trade balance, and net investment income from abroad. b. The balance on goods and services, net investment income from abroad, and net unilateral transfers abroad. c. The merchandise trade balance, net unilateral transfers abroad, and capital inflows. d. The balance on goods and services plus capital outflows minus net unilateral transfers abroad.
We are running a merchandise trade balance _____ and a services trade balance ________.
A. deficit; deficit B. surplus; surplus C. surplus; deficit D. deficit; surplus