The government of country A, which has adopted American GDP accounting conventions, has calculated that the seasonally-adjusted market value of all final goods and services produced within country A in quarter 1 was $5 billion. The government will report that GDP in quarter 1 was
a. $1.25 billion at an annual rate.
b. $4 billion at an annual rate.
c. $5 billion at an annual rate.
d. $20 billion at an annual rate.
d
You might also like to view...
A firm which owns its own equipment and is earning positive economic profits a. is likely earning positive accounting profits
b. is likely earning zero accounting profits. c. is likely earning negative accounting profits. d. could be earning positive or negative accounting profits.
About 42 percent of M1 is composed of:
A. demand deposits. B. savings deposits. C. money market mutual funds. D. currency held by the public.
Suppose that during a given time period the implicit cost for a business was $1,000 and that the explicit cost was $5,000. Also suppose that the firm sold 1,000 units of its products at $5 per item. We can conclude that the firm's
A) accounting profit was $5,000, and its economic profit was $0. B) accounting and economic profits were both $0. C) accounting profit was $0, and economic profit was $1,000. D) accounting profit was $0, and economic profit was -$1,000.
Refer to the graph shown. An exchange rate of $2.40 per dinar creates excess:
A. demand for dinar that will cause the dinar to lose value, unless dinar are sold by the government. B. demand for dinar that will cause the dinar to gain value, unless dinar are sold by the government. C. supply of dinar that will cause the dinar to lose value, unless dinar are bought by the government. D. demand for dinar that will cause the dinar to gain value, unless dinar are bought by the government.