Which of the following is incorrect? During the Great Recession U.S:
a. Real GDP fell.
b. Unemployment rose.
c. Monetary base rose.
d. Inflation fell.
e. All of the above are correct.
.E
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Which of the following defines a sunk cost?
a. Cost of the next best alternative b. Cost of producing an additional unit c. An asset with no scrap value d. Total cost of producing a product
Dumping is a trade practice in which countries sell goods in a foreign market at cheaper prices than the goods can be produced domestically
a. True b. False Indicate whether the statement is true or false
An economy that is currently producing a gross domestic product worth $200 million but is capable of producing an output worth $180 million at full-employment equilibrium would have a(n):
a. recessionary gap of $50 million. b. expansionary gap of $20 million. c. recessionary gap of $30 million. d. expansionary gap of $40 million.
Suppose a bottle of wine produced in France sells for 35 euros. If the exchange rate between euros and dollars is €1 = $1.30, how much will an American pay for the bottle of wine in America?
A. $130.00. B. $45.50. C. $35.00. D. $26.92.