If no foreign companies produce in a country, but many of the country's companies produce abroad, then
A. the country's GNP and GDP will tend to be equal.
B. the country's GNP will tend to exceed its GDP.
C. the country's GDP will tend to exceed its GNP.
D. the country's GDP will tend to be equal to its domestic income.
Answer: B
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An economy has two workers, Jen and Rich. Everyday they work, Jen can produce 2 TVs or 10 radios, and Rich can produce 4 TVs or 12 radios. To maximize total output, Jen should specialize in producing ________ while Rich should specialize in producing ________.
A. TVs; TVs B. radios; both goods C. radios; TVs D. TVs; radios
An open market ________ by the Fed increases interest rates and ________ output
A) purchase; increases B) sale; decreases C) purchase; decreases D) sale; increases
When some dollar amount is automatically corrected for inflation by law or contract, the amount is said to be indexed for inflation
a. True b. False Indicate whether the statement is true or false
Which question is an illustration of a macroeconomic question?
A. Is a corporation unresponsive to the demands of its customers? B. How will the government's budget deficit be affected by public infrastructure projects? C. Is a consumer boycott an effective means of reducing a product's price? D. Are oil companies ripping off consumers by charging exorbitantly high prices for gasoline?