Adding together the growth rate of labor input and the growth rate of labor productivity yields the growth rate of
A. nominal GDP.
B. actual GDP.
C. potential GDP.
D. final GDP.
Answer: C
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When Sophie, a French citizen, purchases a Dell computer in Paris that was produced in Texas, the purchase is
A) neither an export nor an import for either country. B) a U.S. export and a French import. C) a U.S. import and a French export. D) both a U.S. and a French import.
When a person pays a loan back to a bank by writing a check for the amount due, demand deposits decline and the money supply is reduced
a. True b. False Indicate whether the statement is true or false
Which of the following will cause a movement along the aggregate demand curve?
a. A decrease in the price level b. An increase in government purchases c. A decrease in taxes d. An increase in investment spending e. An increase in the interest rate
When the price of a good is low, selling the good is profitable, and so the quantity supplied is large
a. True b. False Indicate whether the statement is true or false