The goods and services that count toward GDP are defined in terms of:
A. the location of production, not the citizenship of the producer.
B. the citizenship of the producer, not the location of production.
C. total production of companies owned by citizens, regardless of the actual location of production.
D. citizens producing within a country's borders.
Answer: A
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The belief that the government can do absolutely nothing in either the short run or the long run to reduce the unemployment rate, because people will anticipate the government's actions and respond to it, is held by the
a. rational expectations school b. neo-Keynesian school c. classical school d. supply-side school e. Keynesian school
Because a government budget deficit represents
a. negative public saving, it increases national saving. b. negative public saving, it decreases national saving. c. positive public saving, it increases national saving. d. positive public saving, it decreases national saving.
Over the past two decades anti-trust policy has become:
A. non-existent. B. more permissive. C. differentiated. D. more restrictive.
The tax multiplier is
A. the MPC multiplied by the MPS. B. the difference in taxes multiplied by the change in the equilibrium level of output. C. the ratio of the change in the equilibrium level of output to the change in taxes. D. the ratio of the change in taxes to the change in the equilibrium level of output.