U.S. Gross Domestic Product includes goods produced by:
A. foreign firms on U.S. soil.
B. U.S. firms on foreign soil.
C. foreign firms on foreign soil.
D. None of these statements is true.
A. foreign firms on U.S. soil.
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Recently, Argo Chemical’s 8.5 percent bonds maturing in 2019 closed at $92 with a face value of $100. This means the Argo bonds
A. sold for $92 each. B. increased in value $92 that day. C. sold at 92 percent of par value. D. had the year of maturity changed to 1992.
Ellie and John sell pizzas in a small town. Ellie is willing to sell 14 pizzas when the price is $10 per pizza, but only 13 pizzas when the price is $8 per pizza. John, on the other hand, is willing to sell 19 pizzas when the price per pizza is $10, but only 17 pizzas when the price is $6 per pizza. At $10 per pizza, the market quantity supplied is equal to _____
a. 31 b. 32 c. 33 d. 29
For a previously-legal good, criminalization will cause
A. demand to become less elastic. B. supply to increase. C. supply to become more elastic. D. price to rise, unambiguously.
If a government wants to pursue an expansionary fiscal policy, then a tax cut of a certain size will be more expansionary when the:
A. Economy's MPS is small B. Economy's MPS is large C. Economy's MPC is small D. Unemployment rate is low