Which of the following is likely to happen if a German company opens a production unit in New York?
A) U.S.'s GDP will decrease. B) U.S.'s GNP will increase.
C) Germany's GNP will increase. D) Germany's GDP will increase.
C
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The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A
When prices rise, the purchasing power of money
A) rises. B) falls. C) is unaffected. D) may rise, fall, or be unaffected depending upon circumstances.
The agreement that established a system of fixed exchange rates immediately following World War II is known as the: a. IMF agreement
b. World Bank agreement. c. Bretton Woods agreement. d. none of the above.
If the expenditure multiplier is 6.5, the tax multiplier is
a. 7.5 b. 5.5 c. -5.5 d. -6.5 e. -7.5