Ted moves into his first apartment. He buys a barely used washer/dryer set from Craigslist and hires a company to pick it up and deliver it to his apartment. What about this transaction will be counted in GDP?
A. The value of the delivery service
B. The value of the washer/dryer set and the delivery service
C. Nothing about this transaction will count toward GDP
D. The value of the washer/dryer set
Answer: A
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What would happen to the budget line if income as well as prices of both goods increase by the same percentage?
A. A rightward parallel shift in the budget line B. A leftward parallel shift in the budget line C. A rightward shift in the budget line D. No shift in the budget line
An increase in the nominal money supply would shift the:
A) aggregate demand curve rightward. B) aggregate demand curve leftward. C) aggregate supply curve rightward. D) aggregate supply curve leftward.
Members of the European Exchange Rate Mechanism (ERM)
A) agreed to buy and sell gold at a fixed rate. B) promised to maintain the values of their currencies within a fixed range. C) attempted to maintain a fixed exchange rate against the dollar. D) all agreed to charge the same interest rate on central bank loans.
The U.S. government uses export subsidies extensively to stimulate exports
a. True b. False Indicate whether the statement is true or false