Which of the following is (are) factors affecting the constant in gravity equation estimates?
I. tariffs and quotas
II. customs' issues and finance and currency issues III. administrative barriers to trade
a. I
b. II
c. III
d. I, II, and III
Ans: d. I, II, and III
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Among the nations listed, which of the following has the most open economy?
A. Germany B. The Netherlands C. The United States D. Japan E. Canada
What is the underground economy? How does it affect GDP calculations? Provide three examples of underground economy transactions
In the classical model, real Gross Domestic Product (GDP) per year is
A. due to supply conditions plus the extent of government intervention in the economy. B. demand determined. C. supply determined. D. determined by supply and demand conditions together.
A depreciation of the dollar will
A. discourage foreigners from buying U.S. goods. B. encourage Americans to invest in foreign assets. C. increase the amounts of U.S. dollars demanded by foreigners. D. throw the U.S. economy into a recession.