An example of a good or service that would count in the U.S. GNP would be a bag of coffee made in:
A. Colombia by Dunkin' Donuts.
B. Vermont by Green Mountain Coffee Roasters.
C. Canada by Starbucks.
D. All of these would count in U.S. GNP.
Answer: D
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When the actions of a central bank induce actions from other banks in the country
A) the other banks are reacting to an announcement effect. B) the other banks are concerned about a penalty rate. C) the other banks are acting to prevent liquidity problems. D) the other banks are acting as fiscal agents.
When the value of loans begins to drop, the net worth of financial institutions falls causing them to cut back on lending in a process called
A) deleveraging. B) releveraging. C) capitulation. D) deflation.
Joss is a marketing consultant. Iris and Daphne are potential customers interested in commissioning Joss to undertake a market survey and compile the findings in a report
Iris is willing to pay $500 for the service while Daphne is willing to pay $800. Suppose that the opportunity cost of Joss's time is $1,200. Assume that Iris and Daphne do not know each other. If the price of the report is $800 per copy A) only Daphne will purchase Joss's services and Joss will undertake the job for her. B) both Iris and Daphne will purchase Joss's services and Joss will undertake the job. C) only Daphne will want to purchase Joss's services but Joss will not be willing to do the work. D) neither Iris nor Daphne will commission the work.
Which of the following features are relevant for determining the extent of a market?
A) Its geographical boundaries. B) Technological innovations that would reduce the cost of production. C) The range of products to be included in it. D) both A and B E) both A and C