The output of U.S. citizens who work in Canada would be included in the
A) gross domestic product of the United States.
B) gross domestic product of Canada.
C) gross national product of Canada.
D) gross national product of Canada and the gross national product of the United States.
B
You might also like to view...
"Institutionalization" refers to the fact that a(n) __________ percentage of funds in the United States are flowing __________ the financial markets through financial intermediaries
A) increasing; indirectly into B) decreasing; indirectly into C) increasing; indirectly out of D) decreasing; directly out of
In economics, the term physical capital
A) refers to funds used by businesses to acquire goods and services. B) refers to all manufactured resources used for production. C) refers to the process of raising funds through the stock market. D) defines the stock of merchandise already produced.
If the shutdown rule, p < AVC, is the same in the short run and the long run, explain why the shutdown prices may be different
What will be an ideal response?
Refer to the data. In determining real GDP, the nominal GDP for:
Assume an economy that makes only one product and that year 3 is the base year. Output and price data for a five-year period are as follows. Answer the question on the basis of these data.
A. each year must be multiplied by the relevant price index.
B. years 1 and 2 must be inflated.
C. years 4 and 5 must be inflated.
D. years 1 and 2 must be deflated.