For developed countries like the United States, GDP will always exceed GNP

Indicate whether the statement is true or false


FALSE

Economics

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The demand for a textbook written by Schwarz and Mobley is Q = 20,000?50P; supply is Q = 2,000 + 100P. Students complain about the high price of textbooks, so a price ceiling is imposed, which unfortunately leads to a shortage of texts. Below what price will shortages occur?

What will be an ideal response?

Economics

Which one of the countries below announces inflation targets?

A) Japan B) U.S. C) Canada D) Mexico E) Nicaragua

Economics

If a firm's economic profit is positive, its accounting profit must also be positive

a. True b. False

Economics

In the United States:

A. taxes decrease, but transfers increase, income inequality. B. taxes increase, but transfers reduce, income inequality. C. both taxes and transfers decrease income inequality. D. both taxes and transfers increase income inequality.

Economics