Firms are consumers and households are producers in the _____ market
a. stock
b. bond
c. labor
d. product
e. underground
c
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When a country allows trade and becomes an exporter of goods consumers gain more than producers lose
a. True b. False Indicate whether the statement is true or false
The government of country A, which has adopted American GDP accounting conventions, has calculated that the seasonally-adjusted market value of all final goods and services produced within country A in quarter 1 was $5 billion. The government will report that GDP in quarter 1 was
a. $1.25 billion at an annual rate. b. $4 billion at an annual rate. c. $5 billion at an annual rate. d. $20 billion at an annual rate.
Suppose you knew that in one year the unemployment rate will be higher than it currently is, and the inflation rate will be 2 percent. Based on the Phillips curve, what can you assume?
a. The unemployment rate is currently at least 5 percent. b. The inflation rate is currently 2 percent. c. The inflation rate is currently over 2 percent. d. The unemployment rate in one year will be at least 5 percent.
CAFTA governs
A. trade between California and the rest of the U.S. B. trade between the U.S., Canada, and Central America. C. agricultural trade only. D. health food products.