Gross national income is
A. GNP converted into dollars using an average exchange rate over several years adjusted for rates of inflation.
B. GNP measured using an incomes approach.
C. GDP converted into dollars using an average exchange rate over several years adjusted for rates of inflation.
D. GNP divided by population.
Answer: A
You might also like to view...
Which point shows where the United States economy was operating during the low point of the Great Depression?
A. Point A
B. Point B
C. Point C
D. Point D
The size of the spending multiplier depends on the marginal propensity to consume (MPC)
a. True b. False Indicate whether the statement is true or false
Recall the Application. When applying the Taylor Rule to the decade of 2000, economist John Taylor found that compared to past experience, the Fed
A) raised interest rates much too high and much too quickly. B) should have maintained interest rates instead of raising them slowly. C) should have lowered interest rates at a much faster pace. D) was much too aggressive in lowering interest rates.
The phrase "capital formation" is synonymous with
a. investment spending. b. buying shares of stock. c. creating mutual funds. d. purchasing financial assets.