Recessions in Canada and Mexico would cause
a. the U.S. price level and real GDP to rise.
b. the U.S. price level and real GDP to fall.
c. the U.S. price level to rise and real GDP to fall.
d. the U.S. price level to fall and real GDP to rise.
b
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Suppose two firms are trying to decide how much to budget for research and development. Once a new discovery is made, each firm benefits regardless of which firm developed the innovation. In this R&D game of chicken, the Nash equilibrium will be that
A) either both firms conduct the R&D or neither firm conducts the R&D. B) only one firm conducts the R&D but which firm conducts the R&D cannot be determined. C) both firms conduct the R&D. D) neither firm conducts the R&D.
If you buy a brand new, American-made laptop computer to use for taking notes in your economics class, then it will be counted as:
a. none of the following. b. C. c. I. d. G. e. (X ? M).
Which of the following industrial countries experienced a relatively slower growth of real GDP in the latter half of the 1990s?
a. Canada b. United States c. Italy d. France e. Japan
In the Keynesian causal chain, changes in GDP cause changes in the level of interest rates
a. True b. False Indicate whether the statement is true or false