If a Japanese company opens a new factory in South Korea, it makes
a. foreign direct investment. The factory will make a bigger impact on South Korea's GDP than on its GNP.
b. foreign direct investment. The factory will make a bigger impact on South Korea's GNP than on its GDP.
c. foreign portfolio investment. The factory will make a bigger impact on South Korea's GDP than on its GNP.
d. foreign portfolio investment. The factory will make a bigger impact on South Korea's GNP than on its GDP.
a
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The supply of product X is perfectly inelastic if the price of X increases by ________ and, as a result of the price change, the quantity supplied ________
A. 7%; increases by 5%. B. 10%; stays the same. C. 8%; increases by 8%. D. 5%; increases by 7%.
An expansionary monetary policy is likely to increase real output more than just temporarily:
a. when actual output currently is beyond the economy's long-run capacity. b. when the economy currently is at full employment c. when the economy currently operates at less than capacity. d. at virtually any output level.
Which of the following is not a requirement for the existence of monopolistic competition in a market?
A. Numerous small sellers B. Full information about the market among buyers and sellers C. Product homogeneity D. Freedom of entry into the market
A transfer payment is a payment made by
a. consumers, but not in exchange for a tangible product. b. firms, but not in exchange for capital equipment. c. foreigners, but not in exchange for a domestically-produced good or service. d. government, but not in exchange for a currently produced good or service.