A Chinese restaurant buys 10 cups of rice for $1; soy, fish and oyster sauces for $1 each; and assorted vegetables for $20. They create 10 meals with these ingredients and sell each one for $5. How much does this process contribute to GDP?
A. $27
B. $23
C. $73
D. $50
Answer: D
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Which of the following can be used to diagnose infections by detecting specific antibodies in a patient's serum?
a. DNA fingerprinting b. PCR c. Western blotting d. ELISA e. Western blotting and ELISA
What is the difference between an inflation-indexed Treasury bond, and a Treasury bond that is not indexed?
A. An inflation-indexed Treasury bond guarantees a certain real rate of return, while a nonindexed Treasury bond does not. B. A nonindexed Treasury bond guarantees a certain real rate of return, while a nonindexed Treasury bond does not. C. An inflation-indexed Treasury bond can only be purchased directly from the Federal Reserve, while a nonindexed Treasury can be purchased through a broker. D. An inflation-indexed Treasury bond always guarantees the purchaser a 5 percent rate of return, while a nonindexed Treasury bond does not.
With regard to international trade,
A. Some countries do not have a comparative advantage in producing anything. B. The market mechanism determines the terms of trade. C. Rich countries benefit at the expense of poor countries. D. The production possibilities exceed the consumption possibilities.
The critical value of t is the value that a t-statistic must exceed in order to
A. reject the hypothesis that the estimated value of the parameter equals the true value. B. accept the hypothesis that the estimated value of parameter equals the true value. C. reject the hypothesis that the estimated value of the parameter exceeds the true value. D. reject the hypothesis that the true value of a parameter equals zero.