Profits earned in the United States by foreign-owned companies are included in
A. both the U.S. GDP and GNP.
B. the U.S. GDP but not GNP.
C. the U.S. GNP but not GDP.
D. neither the U.S. GDP nor GNP.
Answer: B
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At $10,000 of disposable income, Audrey's consumption expenditure was $11,000. At $20,000 of disposable income, Audrey's consumption expenditure was $19,000. What is Audrey's marginal propensity to consume?
What will be an ideal response?
The marginal physical product of labor increases when more laborers are added to production, although it eventually falls as laborers are continually added. The explanation for the initial increase is the
a. low wage rates at the beginning of production b. more skilled labor at the beginning of production c. marginal revenue product is less than the marginal physical product d. marginal revenue product decreases at every production level e. gains from the division of labor and specialization
Which of the following would cause an increase in demand for Toyota automobiles?
a. an increase in the price of Toyota automobiles b. a decrease in the price of Toyota automobiles c. a decrease in the price of Honda automobiles d. an increase in the price of Honda automobiles
If nominal Gross Domestic Product (GDP) is $5 trillion and velocity is 5, then
A. actual money balances held by the nonbanking public are $1 trillion. B. actual money balances held by the nonbanking public are $5 trillion. C. real Gross Domestic Product (GDP) equals $100 trillion. D. real Gross Domestic Product (GDP) equals $500 trillion.