To compare the standard of living of one country to another, economists use:
A.) Per capita GDP.
B.) Real GDP.
C.)Nominal GDP.
D.) Output per worker.
A.) Per capita GDP.
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Which of the following would be expected to increase the demand for money in the U.S.?
A. Financial investors become concerned about increasing riskiness of stocks. B. The economy enters a recession. C. On-line banking allows customers to transfer funds between checking and stock mutual funds 24 hours a day. D. Political instability decreases dramatically in developing nations.
The interest elasticity of money demand is estimated to be
A) small in absolute value. B) large in absolute value. C) highly volatile. D) not statistically different from zero.
Which of the following would be omitted in the calculation of GDP?
a. a two-year old house sold on the market b. an apple sold at a supermarket c. a box of cereal sold at a convenient store d. a newly-made souvenir sold at a resort
Researchers have found that the income of obese women is about 17 percent lower than that of women who are of the recommended weight. This result implies that:
A. obese women earn less because employers discriminate against them. B. the relationship between obesity and income is accidental. C. obese women earn less either because they are less productive or because employers discriminate against them. D. obese women earn less because they are less productive.