What is most likely used to create a common denominator between countries’ GDP in the long run?
a. GDP deflator
b. market exchange rate
c. purchasing power parity
d. nominal value
c. purchasing power parity
You might also like to view...
What factors affect the demand for money?
What will be an ideal response?
If a monopolist is producing the quantity at which marginal revenue equals marginal cost, it should
A) continue to produce this amount if it wants to maximize profits. B) reduce output if it wants to maximize profits. C) increase price and keep output unchanged if it wants to maximize profits. D) increase output if it wants to maximize profits.
The Hernandez family is buying a house. They have submitted several offers, and one was finally accepted. The time they spent submitting offers is considered part of the
a. negative spillover b. profit margin c. market price d. transaction cost
For most products, purchases tend to rise with increases in buyers' incomes, and to fall with decreases in buyers' incomes. Such products are known as:
a. Normal goods b. Average goods c. Inferior goods d. Direct goods