Gross domestic product is the total dollar value at current prices of all final and intermediate goods produced by a nation during a given time period
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
A decrease in the discount rate ________ bank reserves and ________ the money supply if banks respond appropriately to the change in the rate.
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
Which of the following statements is true of the gains to trade?
A) The gains to trade expand as trading partners become more alike. B) The gains to trade shrink as trading partners become more alike. C) The trading nations can enjoy gains to trade even when none of these countries has a comparative advantage in the production of any good. D) The gains to trade are equal for all trading partners.
Expectations that the price level will increase in the future will:
a. shift the current consumption function upward b. make the current consumption function steeper. c. make the current consumption function flatter. d. result in a downward movement along the current consumption function. e. shift the current consumption function downward.
An import quota is a tax on imports
Indicate whether the statement is true or false