Denmark's gross national product in 2003measures the market value of
a. all final goods and services produced in Denmark in 2003
b. all goods and services produced in Denmark in 2003
c. all final goods and services produced in 2003 by Danes regardless of where they're located
d. all goods and services produced by Danes in Denmark in 2003
e. all final goods and services by Danes in Denmark in 2003
C
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One theory of unemployment argues that the unemployment rate will rise when
a. people have accurate expectations regarding the inflation rate. b. unexpected inflation causes people to be "fooled" by high absolute wages. c. people mistakenly believe their wages have greater purchasing power. d. people overestimate the rate of inflation.
Government spending is a variable that is exogenous to the AS/AD model.
Answer the following statement true (T) or false (F)
The neoclassical theory of investment
A) links investment spending to stock prices. B) emphasizes that current investment spending depends positively on the expected future growth of GDP. C) emphasizes the role of real interest rates and taxes as determinants of investment. D) suggests that a downturn in real GDP will lead to a sharp fall in investment, which leads to further reductions in GDP through the multiplier.
Self-indulgence and non-deferred gratification have convinced some that poor lack the desire and motivation to escape poverty
Indicate whether the statement is true or false