The English rule of costs

a. applies only in England.
b. is the standard practice worldwide, except in the United States.
c. is a practice where the loser of a lawsuit pays all attorneys' fees and court costs.
d. results in more lawsuits filed.
a. both b and c are true.


A

Economics

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Which of the following transactions is excluded from GDP?

A. You buy a government bond for $100. B. Intel buys a new jet to ferry its workers from its Folsom, CA headquarters to Santa Clara. C. The local government spends $500,000 for a new park. D. The Brazilian air force buys jets from the U.S. air force.

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The price elasticity of demand is calculated by dividing the percentage change in quantity demanded by the percentage change in price.

Answer the following statement true (T) or false (F)

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Assume that M is $250 billion and V is 8. If V increases by 15%, what will be the change in nominal GDP?

What will be an ideal response?

Economics