A substantial amount of trade between industrialized countries is intraindustry or intrafirm trade rather than interindustry trade
Indicate whether the statement is true or false
TRUE
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When General Motors pays an outside vendor for auto parts, this is an external cost.
Answer the following statement true (T) or false (F)
Double counting in the resource cost-income approach to GDP refers to
a. corporate income being taxed twice b. the amount of income taxes paid to states that is taxable by the federal government c. calculating GDP twice using the income and expenditures methods d. adding the value of exports to GDP and subtracting the value of imports e. counting the total value of a final output in addition to the value of the inputs used to make it
In the market for loanable funds, the supply curve:
A. is downward sloping. B. is made up of people who want to borrow funds. C. represents savers. D. reflects that more people will choose to save the lower is the interest rate.
A market structure characterized by a small number of interdependent sellers is called a(n)
A) monopoly. B) monopolistic competition. C) monopsony. D) oligopoly.