Gross domestic product is a measure of the total value of all
A) sales in an economy over a period of time.
B) consumer income in an economy over a period of time.
C) capital accumulation in an economy over a period of time.
D) final goods and services produced in an economy over a period of time.
D
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___________ is the act of selecting among alternatives
a. Choice b. Risk c. Opportunity d. Fatalism
Assume that foreign capital flows into a nation rise due to expected increases in stock market appreciation. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the GDP Price Index and current international transactions balance in the context of the Three-Sector-Model? a. The GDP Price Index falls and current international transactions
balance becomes more negative (or less positive). b. The GDP Price Index rises and current international transactions balance becomes more negative (or less positive). c. The GDP Price Index and current international transactions balance remain the same. d. The GDP Price Index rises and current international transactions balance remains the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
The slope of an indifference curve represents the maximum amount of one commodity that a consumer is willing to give up in exchange for one more unit of another commodity.
Answer the following statement true (T) or false (F)
If Thelma's willingness to sell her homemade fudge is $4, then at which of the following prices would Thelma sell her fudge?
A. $2 B. $3.99 C. $4.01 D. Thelma would not sell her fudge at any of these prices.