The GDP of the United States includes production by foreign-owned firms that are located in the United States.
Answer the following statement true (T) or false (F)
True
The key issue is, where does the production take place?
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Which of the following is TRUE?
a. Maximizing division profits always leads to maximizing company-wide profits b. Managers of profit centers are given a lot discretion in their decision making c. Profit centers usually require the highest degree of attention of corporate executives d. A manager being rewarded on division revenues has no incentive to make good decisions for his division
A monopsonist can pick the ____, while a monopolist can pick ____
a. the price it will charge; the wage it will pay b. the wage it will pay; the price it will charge c. the market price for its output; the quantity it will produce d. marginal product of labor; the marginal cost of labor e. number of competitors; the number of buyers
The stable to declining quality of the labor force in the United States has been brought about by which of the following:
A. the increasing number of immigrants in the work force B. the decline in the quality of our education system C. the higher level of living D. the exodus of highly educated citizens
With a downsloping demand curve and an upsloping supply curve for a product, placing an excise tax on this product will:
A. increase equilibrium price and quantity. B. decrease equilibrium price and quantity. C. decrease equilibrium price and increase equilibrium quantity. D. increase equilibrium price and decrease equilibrium quantity.