Gross National Product is equal to:
(a) C+I+G+X-M.
(b) C+I+X-M (+) or (-) NFY.
(c) C+I+G +NX.
(d) C+I+G+X-M (+) or (-) NFY.
Answer: (d) C+I+G+X-M (+) or (-) NFY.
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"Free trade benefits one country at another country's expense." Evaluate this statement using economic analysis
If a natural disaster were to cause a negative long-run supply shock to the economy, once the economy adjusts, the new equilibrium will be at a:
A. higher price level and lower level of output. B. lower price level and lower level of output. C. higher price level and higher level of output. D. lower price level and higher level of output.
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An increase in the corporate profits tax will most likely lead to
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