Answer the next question on the basis of the following information: Three goods are produced in an economy in the following amounts: A = 10, B = 30, C = 5. The current year per unit prices of these three goods are A = $2, B = $3, and C = $1.Nominal GDP in the current year is ________.
A. $110
B. $115
C. $90
D. $45
Answer: B
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In the presence of heteroskedasticity, and assuming that the usual least squares assumptions hold, the OLS estimator is
A) efficient. B) BLUE. C) unbiased and consistent. D) unbiased but not consistent.
In the ________ markets all profits and losses must be settled on a daily basis
A) futures B) forward C) spot D) swap
When two countries specialize in the production of different goods and trade with each other, it is most likely each country will
A) export the goods in which it has a comparative advantage. B) export the goods in which it has an absolute advantage. C) import the goods in which it has a comparative advantage. D) import the goods in which it has an absolute advantage.
Which of the following would be a topic considered in the field of macroeconomics?
a. Studying the amazing recent growth of the Chinese economy. b. Studying the movement of US manufacturing firms to China. c. Studying the differences in wages between menand women in the United States. d. Studying the effect of rent controls on the housing market in New York City. e. Studying the impact of environmental regulations on the well-being of human populations.