A nation's gross domestic product (GDP):
A. can be found by summing C + I g + G + X n .
B. is the dollar value of the total output produced by its citizens, regardless of where they are
living.
C. can be found by summing C + S + G + X n .
D. is always some amount less than its NDP.
A. can be found by summing C + I g + G + X n .
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Which one of the following would benefit financially from unanticipated inflation?
A) a borrower whose loan has a fixed nominal interest rate B) a borrower with an adjustable rate mortgage C) a bank that has made loans at a fixed nominal interest rate D) a firm whose workers are covered by a COLA agreement
In any given market, prices are determined by
A. supply and demand. B. transactions costs. C. specialization of labor. D. comparative advantage.
Which of the following is true?
A) The gap between the income per capita of U.S and the income per capita of poorer countries is small when exchange rate-based measures are used. B) The gap between the income per capita of U.S and the income per capita of poorer countries is large when PPP-based measures are used. C) Exchange rate-based measures of income per capita are identical to PPP-based measures. D) Exchange rate-based measures of income per capita differ from PPP-based measures of income per capita.
Which of the following shifts both the LAS and SAS curves?
A) a change in the price level B) a change in the money wage rate C) a simultaneous change in both the price level and the money wage rate D) an advance in technology