If GNP is $600 billion, receipts of factor income from the rest of the world are $50 billion, and payments of factor income to the rest of the world are $30 billion, then GDP is
A. $520 billion.
B. $580 billion.
C. $620 billion.
D. $680 billion.
Answer: B
You might also like to view...
Which of the following countries is the leader of foreign-held U.S. debt as of April 2010?
a. Russia b. China c. Brazil d. United Kingdom
When the actual unemployment rate is less than the natural unemployment rate, the economy is in a recessionary gap
Indicate whether the statement is true or false
Refer to the above figure. If the market price is equal to A, which statement can be made about profits?
A. Profits are positive and equal to BCFG.
B. Profits are positive and equal to BCEA.
C. Profits are negative and equal to BCEA.
D. Profits are negative and equal to GFQ
0.
If a monopolistically competitive firm is earning profits in the short run:
A. the entry of competing firms will shift the firm's demand to the right. B. the entry of competing firms will shift the firm's demand to the left. C. the entry of competing firms will cause price to drop, but not affect the firm's demand curve. D. the entry of competing firms will cause price to rise, but not affect the firm's demand curve.