The difference between GDP and final sales equals
a. depreciation.
b. exports.
c. imports.
d. net inventory change.
d. net inventory change.
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A bank's net interest income is
A) the same as net operating income. B) the difference between interest on loans and interest expense. C) the same as net operating income before expenses. D) the difference between total interest income and interest expense.
Large amusement parks charge entrance fees rather than fee per ride because
a. Customers are more sensitive to paying a fee per ride b. Customers are less sensitive to paying a fee per ride c. Customers view paying per ride as a smaller cost d. None of the above
A monopoly is a
a. large number of producers each with a small share of the total market output b. single seller of a product that typically has no close substitutes c. small group of producers with similar products d. single buyer of an input into production e. group of firms with incentives to cooperate
A customs union is a(n)
a. tax on an imported good b. union of similarly skilled workers c. group of countries that agree on common trade policies d. union of countries with similar customs e. agreement that affects intra-country trade