Ceteris paribus, Real GDP and the unemployment rate are
A) directly related.
B) inversely related.
C) unrelated.
D) directly related when GDP is below its natural level and inversely related when GDP is above its natural level.
B
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A good is considered to be nonexcludable if
A) your consumption of the good reduces the quantity available for others to consume. B) the producer can keep those who did not pay for the good from consuming the good. C) the producer finds it difficult to keep those who did not pay for the good from consuming the good. D) it is jointly owned by all members of a community.
Which of the following groups gain from international trade? i. producers of exported goods ii. domestic consumers of imported goods iii. workers in exporting firms
A) i only B) ii only C) iii only D) i and iii E) i, ii, and iii