Nominal GDP includes the current value of services produced in the economy
a. True
b. False
Indicate whether the statement is true or false
True
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A large majority of the personal computers (PCs) in the United States use an operating system purchased from Microsoft. Microsoft's relationship with PC manufacturers is an example of which of Porter's competitive forces?
A) the bargaining power of suppliers B) the threat from new entrants C) the bargaining power of buyers D) competition from substitute goods or services
GDP is a:
A. stock concept and refers to the market value of all output sold. B. flow concept and refers to the market value of all output sold. C. flow concept and refers to the market value of final output. D. stock concept and refers to the market value of final output.
Suppose that the demand for movie tickets is price inelastic for the range of prices between $10 and $12. If a movie theater raises the price of tickets from $10 to $12, what will happen to total revenues?
A) Total revenues will decrease. B) Total revenues will increase. C) Total revenues will not change. D) Total revenues will have no relationship to the quantity of ties demanded.
When the rate of interest in the economy falls, there will be
A. an increase in nominal Gross Domestic Product (GDP). B. an increase in the market price of existing bonds. C. a decrease in the transaction demand for money. D. less investment by businesses.