Marianne and Laura are both homemakers with children. When Laura starts to work as an unpaid volunteer at a hospital, she hires Marianne to care for her young child. In this context, the gross domestic product (GDP) will _____
a. increase
b. decrease
c. remain unaffected
d. increase if Marianne cares for the child better than Laura
e. increase if Laura treats patients with more sincerity than the other volunteers
a
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Adopting a common currency implies all of the following, EXCEPT that:
A) each region will lose its monetary autonomy. B) a common interest rate will be set. C) each region will retain its monetary authority. D) a common monetary policy will be set by the central bank.
The change in U.S. official reserves is equal to
A) borrowing from abroad plus the current account deficit. B) the current account balance plus the capital and financial account balance. C) the current account balance minus the capital and financial account balance. D) foreign investment in the United States minus U.S. investment abroad.