Refer to Figure 18.1. With an import ban, what is the equilibrium quantity of gloves in Duckland?
A. 100
B. 80
C. 60
D. 40
Answer: C
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Nominal GDP is the market value of ________.
A. all output produced and accumulated over the years B. resources (land, labor, capital, and entrepreneurship) in an economy in a given year C. all consumption and investment spending in an economy in a given year D. all final goods and services produced in an economy in a given year
The Bureau of Economic Analysis releases last quarter's growth rate in real GDP. This release would most likely have been written by what kind of an economist?
A. A monetary economist B. A macroeconomist C. A microeconomist D. A labor economist AACSB: Reflective Thinking
In economics, investment refers to the process of accumulating:
a. capital goods. b. consumer goods. c. money. d. stocks and bonds.
In the short run following a depreciation of the dollar, the United States may move downward along the J-curve since it is likely that the United States
A) spends more dollars on imports. B) spends fewer dollars on imports. C) sells an increased dollar amount of exports. D) sells a reduced dollar amount of exports.