How should per capita real Gross Domestic Product (GDP) be used?
A) It is an accurate measure of economic well-being.
B) It is a reasonably good measure of productive activity.
C) Per capita real Gross Domestic Product (GDP) is a good gauge of a nation's quality of life because it takes into account a nation's cultural and spiritual values.
D) All of the above.
B
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A country possesses a comparative advantage in the production of a good if
A) the opportunity cost in terms of forgone output of alternative goods is lower for this country than it is for its trading partners. B) it possesses an absolute advantage in the production of this good. C) it is able to produce more of this good per hour than can any other country. D) all of the above.
Most payments in the United States for goods and services are made using
A) currency. B) traveler's checks. C) checking account deposits. D) gold.
"Mid-size" firms may issue publicly-traded __________ and they usually turn to commercial banks for __________-term debt financing
A) bonds; long B) bonds; short C) equity; long D) equity; short
The money multiplier is calculated as (1 รท required reserve ratio).
Answer the following statement true (T) or false (F)