Which of the following would be included in the GDP of the United States?
A. Boeing builds a plane in Seattle that is sold to Air Canada.
B. Planet Hollywood serves customers in a restaurant in Hong Kong.
C. Chrysler produces a car in Germany that is sold in Michigan.
D. Nestle produces a candy bar in Switzerland that is sold in San Francisco.
Answer: A
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If the economy is at point R, most likely this economy is experiencing __________.
Which of the following describes a situation where tax laws give preferential treatment to specific types of behavior?
a. tax evasion b. a political payoff c. a tax loophole d. compensation for the benefit of society
The prime interest rate:
A. affects investment spending while the federal funds rate affects consumption spending. B. affects consumption spending while the federal funds rate affects investment spending. C. has no effect on exchange rates and net exports. D. affects investment spending while the federal funds rate affects overnight borrowing of bank reserves.
Globalization ________ the wages of workers in the exporting industries and ________ the wages of workers in the import-competing industries.
A. raises; raises B. lowers; raises C. raises; lowers D. raises; does not change