The value of what a U.S.-owned McDonald's produces in South Korea is included in the U.S. ________ and the South Korean ________
A) GNP; GDP B) GDP; GDP C) GNP; GNP D) GDP; GNP
A
You might also like to view...
Economists consider an economy to be at "full employment" when
A) the unemployment rate equals the natural rate of unemployment. B) there is no structural unemployment. C) there is no frictional unemployment. D) there is only a small amount of cyclical unemployment.
If a firm in a competitive market doubles its number of units sold, total revenue for the firm will
a. more than double. b. double. c. increase but by less than double. d. may increase or decrease depending on the price elasticity of demand.
Which of the following decreases in response to the interest-rate effect from an increase in the price level?
a. both investment and consumption b. consumption but not investment c. investment but not consumption d. neither investment nor consumption
If the government knew the precise values of the multiplier and potential income, fine-tuning the economy would
A. be much easier, but mistakes would still occur occasionally. B. still be very difficult. C. be possible. D. be more difficult.