Kelly is a U.S. citizen who works for Burton located in Germany. Kelly's work contributes to:
A. U.S. GNP, but not U.S. GDP.
B. U.S. GDP, but not U.S. GNP.
C. U.S. GNP and U.S. GDP.
D. Germany's GNP and U.S. GDP.
Answer: A
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Which of the following is included in M2?
A) U.S. Treasury bonds B) stocks C) savings accounts D) commercial paper
When demand decreases and the demand curve shifts to the left, equilibrium price ________ and equilibrium quantity ________
A) increases; decreases B) decreases; increases C) decreases; decreases D) increases; increases
What does the expansion path represent?
What will be an ideal response?
Refer to Scenario 7.3. Suppose that your firm decides to double its output to 400. To achieve this level of output the firm will have to:
A) exactly double its inputs. B) more than double its inputs. C) less than double its inputs.