When an American doctor opens a practice in Bermuda, his production there is part of U.S. GDP
a. True
b. False
Indicate whether the statement is true or false
False
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How do property rights help organize production and trade?
What will be an ideal response?
What would be the profits for Irene's Dairy in equilibrium?
a. 5 million loss b. 5 million c. 10 million d. 20 million
We interpret the meaning of "loanable funds" as the
a. flow of resources available from private saving. b. flow of resources available to fund private investment. c. resources borrowed by private investors and by government. d. resources lent by private investors and by government.
An explanation for the low saving rate in the United States consistent with the life-cycle reason for saving includes:
A. large and persistent capital gains. B. households spending beyond their means to keep up with community standards. C. relatively generous government assistance for the elderly and large down payments required for home purchases. D. highly-developed financial systems making it easy to buy homes with down payments under 15 percent.