When Ford increases the production of cars in Romania, which of the following occurs?
A) GDP in the United States rises. B) GNP in the United States rises.
C) GNP in Romania rises. D) Both A and C occur.
B
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Suppose that the domestic production of computer games creates enjoyment for those who play the games. Domestic production of computer games also results in knowledge spillovers that positively impact many other industries. One possible policy that could be employed to encourage increased production of computer games by domestic firms is
A. to eliminate all restrictions on the importation of computer games. B. to tax the production of computer games. C. to tax the consumption of computer games. D. to impose tariffs on computer game imports.
Refer to the information provided in Figure 29.2 below to answer the question(s) that follow.
Figure 29.2Refer to Figure 29.2. The price will fall if the economy is currently at Point ________ and policy makers implement a policy which decreases the aggregate demand curve to ________.
A. B; AD2 B. A; AD2 C. B; AD1 D. A; AD1
"Bad news" about an expenditure-related indicator means that
A) it is lower than its previous value. B) it is lower that it was expected to be. C) it is higher than it was expected to be. D) it rose more slowly than the rate of inflation.
Which of the following is NOT true of an oligopoly?
A) They advertise their product. B) The firms recognize their interdependence. C) A few firm account for a large portion of the total output. D) Firms are price takers.