Purchasing power parity (PPP) measurements of income are a way to make international comparisons by correcting for national differences in
A) unemployment.
B) inflation.
C) prices of goods and services.
D) economic growth.
E) government subsidies.
C
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The Bretton Woods system confronted severe problems in the 1960s, problems which included
A) dollars held by foreign central banks exceeded gold reserves held by the United States. B) some countries with overvalued currencies refused to devalue their currencies. C) the increased demand for gold brought about by lifting the prohibition against U.S. citizens owning gold. D) all of the above
Suppose that national saving is $1456 billion, investment is $1945 billion, and private saving is $1590 billion. How much is the current account balance?
A) $489 billion B) $221 billion C) -$221 billion D) -$489 billion
For a perfectly competitive firm, marginal revenue equals average revenue because the
A. firm’s supply curve is horizontal. B. industry’s demand curve is horizontal. C. firm’s demand curve is horizontal. D. industry’s supply curve is horizontal.
A decrease in the money supply in the short run will cause an increase in planned investment spending
a. True b. False Indicate whether the statement is true or false