GDP measured using current prices is called:
A. constant GDP.
B. real GDP.
C. deflated GDP.
D. nominal GDP.
Answer: D
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In a monopoly market, there is (are) ________ seller(s)
A) one B) a few C) many D) very many
Refer to Table 2-3. Assume Dina's Diner only produces sliders and hot wings. A combination of 80 sliders and 50 hot wings would appear
A) along Dina's production possibilities frontier. B) inside Dina's production possibilities frontier. C) outside Dina's production possibilities frontier. D) at the vertical intercept of Dina's production possibilities frontier.
An decrease in domestic savings
a. decreases foreign borrowing. b. will improve the trade balance. c. will increase exports. d. will increase foreign borrowing.
The benefits of international trade include
a. more choice for consumers b. efficiency gains from specialization c. more competition d. all of the above e. (a) and (c) only