The difference between a country's Gross National Product (GNP) and its Gross Domestic product (GDP) is that
A) GNP refers to production within the nation while GDP refers to production by domestic factors no matter where they are located.
B) GNP is always bigger than GDP.
C) GDP refers to production within the nation while GNP refers to production by domestic factors no matter where they are located.
D) Two of the above are true.
C
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Keynesians believe that
A) the link between money and aggregate demand is very strong. B) interest rates will immediately respond to a change in investments. C) fluctuations in the price level are a source of stability. D) the interest rate will not necessarily respond to a drop in investments.
Which of the following statements is true?
A. Out-of-pocket spending has been rising as a share of the total. B. The uninsured tend to have above-average incomes. C. HMOs have all but disappeared as types of insurance. D. The uninsured often have problems accessing appropriate care.
In representative democracy, voters are ____________ and politicians are ______________
A. agents; principals B. logrollers; principals C. agents; employees D. principals; agents
If Thailand is more efficient at producing fax machines and telephone answering machines than Malaysia, then Thailand enjoys a(n) _____ advantage over Malaysia in the production of these products.
Fill in the blank(s) with the appropriate word(s).