Gross Domestic Product is computed by using
A) base-year prices.
B) wholesale prices.
C) previous-year prices.
D) current-year prices.
D
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Federal government expenditures, as a percentage of GDP
A) rose from 1950 to 1991, fell from 1992 to 2001, and have risen from 2001 to the present. B) rose from 1950 to 1980, fell from 1981 to 2001, and have risen from 2001 to the present. C) have fallen since the early 1950s to the present. D) have risen since the early 1950s to the present. E) rose from 1950 to 2001 and then fell from 2001 to the present.
Regulation began in the United States in the 1950s
a. True b. False Indicate whether the statement is true or false
Which of the following elements are commonly emphasized by people who support advertisements?
a. increases competition; increases quality; provides product information b. causes demonstration effect; increases quality; provides product information c. causes demonstration effect; increases quality; increases competition d. causes demonstration effect; causes “irrational” brand loyalty; provides product information
In the figure below, AB is the production-possibility curve of Canada. I1 and I2 are two of the community indifference curves of Canada. With free trade, the international price ratio is 0.25 bushel of wheat/bale of cotton, and Canada will export:
A. twenty bushels of wheat. B. sixty bales of cotton. C. eighty bushels of wheat. D. forty bales of cotton.