The trade-to-GDP ratio is calculated by
A) exports divided by GDP.
B) imports divided by GDP.
C) exports plus imports divided by GDP.
D) exports minus imports divided by GDP.
C
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Isoquants that are downward-sloping straight lines imply that the inputs
A) are perfect substitutes. B) are imperfect substitutes. C) cannot be used together. D) must be used together in varying proportions.
All of the following are true regarding moral hazard except which one?
A) It arises when parties to a transaction have conflicting objectives and the supervising parties cannot monitor the other parties. B) It typically occurs after participants have already entered into a contract or agreement. C) It is a situation in which individuals make hidden actions that benefit them at the expense of the other parties. D) Situations of moral hazard tend to be rare occurrences.
Transfer payments are an injection into the circular flow of income and expenditure model
a. True b. False Indicate whether the statement is true or false
If the company can correctly anticipate the adverse selection, what premiums would it charge??
a. $2500
b. $2600
c. $1000
d. $1100