Which of the following is accurately predicted by GDP?
a. production
b. education
c. health
d. environmental protection
a. production
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When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline
The techniques of optimization in levels and optimization in differences:
A) cannot be used to compare the same set of alternatives. B) provide identical answers when comparing the same set of alternatives. C) may provide different answers when comparing the same set of alternatives. D) compare only the costs and ignore the benefits of the alternatives.
If a U.S. firm produces cars in Mexico, that production should count towards
A) Mexico's GNP. B) U.S. GDP. C) U.S. GNP. D) It will not affect either U.S. GNP or U.S. GDP.
The Bretton Woods agreement created the ________, which was given the task of promoting the growth of world trade by setting rules for the maintenance of fixed exchange rates and by making loans to countries that were experiencing balance of payments
difficulties. A) IMF B) World Bank C) Central Settlements Bank D) Bank of International Settlements