The measure of the price level of all goods and services produced in an economy is called _____
a. the GDP inflator
b. the GDP deflator
c. nominal GDP
d. real GDP
b
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The fastest growing nations today are those with
A) few funds spent on research and development. B) government intervention in markets to ensure high prices. C) the least saving. D) the fastest growing exports and imports. E) barriers that significantly limit international trade.
When drawing a production possibilities frontier, which of the following is held constant?
A) the amount of money in the economy B) the available factors of production and the state of technology C) the prices of goods and services D) the quantity of the goods and services that are produced E) None of the above because nothing is held constant when drawing the production possibilities frontier.
If, in a competitive market, marginal benefit is greater than marginal cost
A) the quantity sold is less than the equilibrium quantity. B) the net benefit to consumers from participating in the market is greater than the net benefit to producers. C) the government must force producers to lower price in order to achieve economic efficiency. D) the quantity sold is greater than the equilibrium quantity.
The acquisition of more than 10 percent of the outstanding shares in a company in another country is
A) foreign direct investment. B) foreign direct acquisition. C) portfolio investment. D) portfolio acquisition.