Which of the following transactions adds to U.S. GDP for 2015?
a. In 2015, Ann sells a car that she bought in 2011 to Bill for $7,000.
b. An American management consultant works in Canada during the summer of 2015 and earns the equivalent of $40,000 during that time.
c. When Ken and Kim were both single, they lived in separate apartments and each paid $800 in rent. Ken and Kim got married in 2015 and they bought a previously unoccupied house that, according to reliable estimates, could be rented for $1,700 per month.
d. None of the above transactions adds to U.S. GDP for 2015.
c
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In the case of a domestic monetary shock, floating exchange rates
A) make the home economy less vulnerable. B) make the home economy more vulnerable. C) make the foreign economy more vulnerable. D) would not affect the foreign economy. E) would not affect the home economy.
Since 1962, which of the following federal expenditures, measured as a percentage of GDP, has decreased?
A) Social Security B) Medicare and Medicaid C) net interest D) defense
Which of the following markets is most likely to be oligopolistic?
A) The market for corn B) The market for aluminum C) The market for colas D) The market for ground coffees
Developing countries have not benefited as much as expected from their higher education programs because of
(a) lack of program focus on the needs of the country. (b) increasing returns to scale in each individual's education. (c) graduates get jobs in the private sector. (d) all of the above.