National income accountants compare the market value of the total outputs in various years rather than actual physical volumes of production because
What will be an ideal response?
it is impossible to add oranges and computers. correct
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Your indifference curves for good X (horizontal axis) and good Y (vertical axis) are vertical lines because you do not gain any satisfaction from consumption of Y
As the price of X declines, the change in consumption of X is entirely composed of the: A) income effect. B) substitution effect. C) Giffen effect. D) independent good effect.
A kinked demand curve is associated with
a. perfect competition. b. monopolistic competition. c. an oligopoly. d. public utilities.
A fixed exchange rate policy:
A. imports monetary policy. B. strengthens domestic interest rate policy. C. will likely make domestic inflation more volatile. D. decreases central bank policy accountability and transparency.
Remittances sent from developed countries are estimated at approximately ________ per year.
A. $2 million B. $50 million C. $100 billion D. $5 trillion