Apple is an American company, but its iPhones are assembled in China. The sale of each iPhone then is counted in China's GDP as:
A. investment.
B. consumption.
C. an import.
D. an export.
Answer: D
You might also like to view...
The government in the country of Zappoo is trying to decide which tax plan to implement. The table above shows three alternative plans. If the government decides to implement a progressive income tax, it will implement tax plan ________
A) A B) B C) C D) A or B
The greater the risk of nonrepayment of a loan, other things being equal
A) the longer is the repayment term. B) the lower is the charged loan fees. C) the higher is the rate of interest. D) the smaller is the amount of collateral that is used.
An efficient allocation of productive inputs requires that:
a. each output has the same rate of technical substitution among inputs used. b. each output has the same marginal rate of substitution for consumers. c. each pair of outputs has the same rate of product transformation. d. each individual has the same marginal rate of substitution between outputs.
Answer the following questions true (T) or false (F)
1. The General Agreement on Tariffs and Trade (GATT) was formed to replace the World Trade Organization (WTO) because the WTO was empowered only to reduce barriers to trade in goods. The GATT is an agreement to reduce barriers to trade in goods, services, and intellectual property. 2. In 1995, the General Agreement on Tariffs and Trade (GATT) was replaced by the World Trade Organization (WTO). 3. Globalization is the process of countries imposing trade restrictions on other countries.