The GDP deflator reflects the prices of all goods and services produced around the world, whereas the consumer price index reflects the prices of all goods and services bought by consumers
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
A net exports deficit or surplus equals
A) taxes minus savings plus public and private investment. B) the government sector balance plus the private sector balance. C) net lending by both the private and public sector plus savings minus investment. D) net worth plus the government sector balance minus the private sector balance.
The difference between the effect of an import quota when quota rights are given away and the effect of a tariff is that
a. only the tariff results in a higher domestic price b. only the quota decreases the amount of goods imported c. the decrease in producer surplus is smaller with the quota d. under a quota, part of the decrease in consumer surplus is redistributed to foreign producers; under a tariff, it is redistributed to the domestic government e. under a tariff, part of the decrease in consumer surplus is redistributed to foreign producers; under a quota, it is redistributed to the domestic government
The Ricardian model (with constant opportunity costs) predicts that a nation will ______________ in the production of the good it exports.
a. have a comparative disadvantage b. develop shortages c. lower the cost of production d. specialize completely
Refer to the above figures. Which panel(s) represent economic growth?
A) Panels A and C only B) Panel D only C) Panel A only D) Panels B and D only