What does U.S. GDP intend to measure?
A) The market value of final goods and services produced by U.S. citizens during the course of a year
B) The market value of all goods and services produced by U.S. citizens during the course of a year
C) The market value of final goods and services produced within the U.S. during the course of a year
D) The market value of all goods and services produced within the U.S. during the course of a year
C
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In a competitive labor market, if the demand for labor increases, labor demand will shift to the:
A. left and wages will decrease. B. left and wages will increase. C. right and wages will decrease. D. right and wages will increase.
Up to what amount would a risk-neutral gambler pay to enter a game where on the flip of a fair coin, if you call the correct outcome the payoff is $2,000?
A. Up to $2,000. B. Up to $1,000. C. More than $1000 but less than $2000. D. More than $1,500.
During the contraction phase of the business cycle,
a. prices fall relative to costs, reducing profit margins. b. costs fall relative to prices, reducing profit margins. c. prices fall relative to costs, increasing profit margins. d. costs fall relative to prices, increasing profit margins.
Which of the following would lead to a decrease of the U.S. demand for euros?
a. A decrease in the U.S. interest rate, with no change in the European interest rate b. An increase in U.S. GDP c. Resurgence of interest in European precision tools d. Expectations of a rise in the dollar price of the euro e. A sudden increase in anti- European sentiment.