GDP is:
a. the value of all final goods and services produced domestically within a given period of time
b. the value of all final good and services produced anywhere in the world by a nation's firms within a given period of time.
c. the value of all final goods and services produced by a government within a given period of time.
d. the sum of all currency and coins in circulation.
a
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Which of the following best describes the impact of immigration on complementary resources?
A. The lower wage rate resulting from immigration reduces production costs, creating a business-income effect that increases the demand for complementary resources B. The lower wage rate resulting from immigration reduces production costs, creating an output effect that decreases the demand for complementary resources C. The higher wage rate resulting from immigration increases production costs, creating an output effect that increases the demand for complementary resources D. The lower wage rate resulting from immigration reduces production costs, creating an output effect that increases the demand for complementary resources
________ decreases a firm's capital stock, and ________ increases its capital stock
A) Saving; depreciation B) Depreciation; investment C) Time; depreciation D) Saving; investment E) Investment; saving
Airline deregulation has led to (i) lower prices or (ii) a deterioration of service to isolated communities.
A. i and ii B. i but not ii C. ii but not i D. neither i nor ii
Which of the following factors are highly related to the pace of economic? development?
What will be an ideal response?