The above table gives data for a hypothetical nation. Gross domestic product is
A) $4,049 billion.
B) $4,079 billion.
C) $4,054 billion.
D) $4,339 billion.
B
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All of the following are considered natural resources EXCEPT
A) a redwood forest. B) labor. C) gold. D) a coral reef.
Milk can be used to produce cheese or butter. If the price of a pound of butter rises, what happens to the supply of cheese?
A) The supply of cheese decreases. B) The supply of cheese increases. C) The supply of cheese stays the same and there is a decrease in the quantity supplied of cheese. D) The supply of cheese stays the same and there is no change in the quantity supplied of cheese. E) The supply of cheese could increase, decrease, or stay the same depending on what happens to the supply of butter.
The prisoners' dilemma has an equilibrium in which
A) both players deny. B) both players confess. C) the player who confesses wins. D) the player who denies wins.
The cost of holding money is
A) transactions accounts. B) the opportunity cost. C) the liquidity approach. D) capital controls.