Suppose that the BMW plant in Spartanburg, SC, produces $10 million worth of vehicles in a given year. Of this total amount, $1 million in profits are returned to the owners of the company in Germany. The $1 million in profits
A) contributes to both U.S. GDP and U.S. GNP.
B) contributes to U.S. GNP, but not U.S. GDP.
C) contributes to U.S. GDP, but not U.S. GNP.
D) contributes to neither U.S. GDP, nor U.S. GNP.
C
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The securities, such as stocks or bonds, constitutes a(n) ________ for the borrowers and a (n) ________ for the saver
A) asset; liability B) asset; debt C) liability; asset D) debt or an asset; liability or an asset
In a simultaneous game,
A) players have the benefit of seeing the moves of others before they make their moves. B) every player is looking forward and reasoning forward. C) one player has to go first. D) players do not have the benefit of observing the moves of other players before making their own.
If the income elasticity of demand for good A was 3.9 and the income elasticity of demand for B was 0.2: a. Both good A and good B are normal
b. Both good A and good B are inferior. c. Good A is normal and good B is inferior. d. Good A is inferior and good B is normal.
Historically, the excess reserves of banks have been ________ relative to checkable deposits, but during the crisis of 2008 the excess reserves of banks ________. (Fill in the blanks)
a. large; declined sharply b. small; fell sharply c. small; increased sharply d. large; increased sharply