Net national product is
A. GDP plus depreciation.
B. GNP minus depreciation.
C. GDP minus depreciation.
D. GNP plus depreciation.
Answer: B
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An appreciation of the U.S. dollar
a. is the same thing as a decrease in the consumer price level. b. increases the purchasing power of the U.S. dollar in foreign markets for goods and services. c. decreases the purchasing power of the U.S. dollar in foreign markets for goods and services. d. is the same thing as an increase in the consumer price level.
The quantity demanded of Coca Cola has increased. The best explanation for this is that
A. the price of Pepsi has decreased. B. Coca Cola has instituted a new, successful advertising campaign. C. Coca Cola consumers had an increase in income. D. the price of Coca Cola has decreased.
If whole tomatoes were money, which of the following functions of money would be the hardest for tomatoes to satisfy?
A) unit of account B) store of value C) certificate of gold D) medium of exchange
A drug addict will likely have a demand for drugs that is very
A. upward sloping. B. elastic. C. flat. D. inelastic.