Wheat produced in the U.S. but sold in Japan would not be included while calculating the U.S. GDP
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following is not directly counted in GDP?
A) investment expenditures B) consumer goods C) government purchases D) intermediate goods
When analyzing the effects of changes in demand in an open economy, we assume that firms:
a. have only one fixed rate of return on various projects when deciding investment activity. b. have differing returns on various projects when deciding investment activity. c. are required to borrow only from domestic banks when funding investment activity. d. consider the effects of inflation on investment activity.
Agriculture industries are notorious for having barriers to entry.
Answer the following statement true (T) or false (F)
Production efficiency under a natural monopoly is achieved
A. Where marginal cost equals demand. B. Where marginal cost is minimized. C. At capacity production where ATC is at a minimum. D. Where marginal revenue equals marginal cost.