Discuss the link between real GDP and imports
What will be an ideal response?
Imports are one of two components that are influenced by changes in U.S. real GDP and so imports are referred to as an induced expenditure. Other things the same, an increase in U.S. real GDP leads to an increase in U.S. imports. As U.S. income increases, households purchase more domestic as well as more foreign goods and services.
Economics
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What is one way firms can enforce tie-in sales?
A) One of the goods has no close substitutes. B) contractual arrangements C) information asymmetry D) Any of the above.
Economics
The system of measurement for expressing macroeconomic data is called
a. national income accounting. b. balance of payment accounting. c. generally accepted accounting principles. d. double entry bookkeeping.
Economics