Imports are not included in the calculation of GDP in order to avoid double counting
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to Table 8-4. Consider the data above (in billions of dollars) for an economy: Gross domestic product (in billions of dollars) for this economy equals
A) $2,200. B) $2,100. C) $1,600. D) $1,400.
If technological change is "labor augmenting," then
A) output per worker declines, output per unit of capital increases. B) "effective labor input" increases, output per unit of capital declines. C) output per worker increases, output per unit of capital is constant. D) Both output per worker and output per unit of capital change.
Which of the following statements about "inside information" is FALSE?
A) It is information that is not available to the general public. B) It is illegal to knowingly use inside information when trading stocks. C) Profits can be made using inside information. D) The government never imposes fines or other penalties for abuse of inside information.
A government budget deficit will lead to:
a. an increase in the supply of loanable funds and an increase in real interest rates. b. a decrease in the supply of loanable funds and an increase in real interest rates. c. an increase in the supply of loanable funds and a decrease in real interest rates. d. a decrease in the supply of loanable funds and a decrease in real interest rates.