Kelly is a U.S. citizen who works for Burton located in Germany. Kelly's work contributes to:
A. U.S. GDP, but not U.S. GNP.
B. U.S. GNP, but not U.S. GDP.
C. Germany's GNP and U.S. GDP.
D. U.S. GNP and U.S. GDP.
B. U.S. GNP, but not U.S. GDP.
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The CPI in 2010 was 218, while the CPI in 1980 was 82. If you had $5,000 in 1980, its equivalent purchasing power in 2008 would be $10,850
Indicate whether the statement is true or false
Which of the following would shift the demand curve for the normal good regular vanilla ice cream to the left?
a. reports of health risks as a result of eating vanilla ice cream b. an increase in the price of frozen yogurt c. a decrease in the price of hot fudge sauce d. an increase in the price of regular vanilla ice cream e. an increase in buyers' incomes
A renewable resource such as fish which is also an open-access good is:
a. rival but nonexcludable. b. nonrival and nonexcludable. c. nonrival but excludable. d. rival and excludable.
Which of the following will shift the consumption function upward?
What will be an ideal response?