Anna, a U.S. citizen, works only in Germany. Where is the value she adds to production in Germany included?
What will be an ideal response?
In German GDP, but it is not included in U.S. GDP.
You might also like to view...
What has been the impact of the widespread adoption of automated teller machines (ATMs) on the demand for bank tellers?
A) The demand for tellers has increased. B) The demand for bank tellers has become more inelastic. C) The demand for bank tellers has become more elastic. D) There has been no change because the ATMs and the employees provide completely different services.
An example of an external force affecting the business cycle is
a. an inventory accumulation. b. the multiplier effect. c. a change in business attitudes toward investment. d. a change in the discount rate by the Fed.
The new Keynesian economists believed that:
a. wages and prices are flexible in the short run. b. wages are flexible but prices are not flexible in the long run. c. wages are not flexible but prices are flexible in the short run. d. wages and prices are not flexible in the short run. e. wages and prices are not flexible in the long run.
In every economic system, scarcity imposes limitations on
a. households, business firms, governments, and the nation as a whole b. households and business firms, but not the governments c. local and state governments, but not the federal government d. households and governments, but not business firms e. business firms, governments, and the nation as a whole