The value added method of calculating GDP means
A. adding up the incomes of all businesses in a given year.
B. adding up the difference between the sale price and the value of intermediate goods of each product at every stage of production.
C. adding up the market values of all intermediate goods.
D. calculating the percentage changes in the GDP between two years.
Answer: B
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The broadly-defined money supply in the U.S., called M2, differs from M1 primarily in its inclusion of
A) bonds of all sorts held by the public. B) outstanding charge-account balances. C) savings deposits in financial institutions. D) Treasury bills held by the public. E) credit cards.
Because of its vast oil reserves, Saudi Arabia is a rich country. Saudi Arabia exemplifies the general fact that differences in __________ are responsible for some of the differences in standards of living around the world
Fill in the blank(s) with correct word
An example of a public policy response to a monopoly is:
A. encouraging mergers. B. public admonishment. C. antitrust laws. D. All of these are examples.
Of the following examples, the sales for ______ will most likely be affected by the health of the economy.
a. drain cleaner b. towels c. dishwashing liquid d. popcorn