Which of the following relationships is correct?
a. GDP = GNP + Net foreign income
b. GNP = GDP + Net foreign income
c. GDP = Consumption + Net foreign income
d. GDP = GNP + Balance of payments
e. GDP = GNP adjusted for the foreign exchange rate
.B
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In the figure above, the shift in the aggregate demand curve from AD1 to AD3 could be the result of an increase in
A) the price level. B) foreign incomes. C) aggregate supply. D) the foreign exchange rate. E) expected future income.
What is a standard process used to determine fair market value of a property?
A) the comparable sales method B) just compensation C) eminent domain D) the equitable transactions cost method
If there are open first-class seats available on a particular flight, some airlines allow customers with coach (discount) tickets to upgrade to first-class tickets during the electronic check-in process
Suppose the regular price of a first-class ticket is $800, the total price of the upgrade ticket (original price plus the upgrade) is $400, the marginal cost of serving both types of customers (full-fare and upgrade first-class flyers) is $100, and the airline maximizes profits. Which of the following statements is true? A) MR for the full-fare customers must be higher than the MR from upgrade customers. B) MR for the full-fare customers may be higher or lower than the MR from upgrades. C) MR = MC for the full-fare customers, but the airline is willing to collect any positive amount from the upgrade customers. D) MR must be the same for both full-fare and upgrade customers.
In the United States, the supply curve for human organs currently is: a. vertical
b. horizontal. c. downward sloping. d. upward sloping.