Which of the following would increase the GDP of the United States?
a. A resident of California buys a case of wine from a winery in France.
b. A resident of Germany buys a software program from a company in Washington.
c. A resident of Florida spends $3,000 on a vacation in Mexico.
d. A Japanese investor purchases 100 shares of a computer company located in Illinois.
B
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The impact of crowding out
A) is larger in an open economy as compared to a closed economy. B) is larger in a closed economy as compared to an open economy. C) is larger in an open economy as compared to a closed economy when fiscal policy is contractionary. D) is larger in a closed economy as compared to an open economy when fiscal policy is contractionary.
In the 2-factor, 2 good Heckscher-Ohlin model, trade will ________ the owners of a country's ________ factor and will ________ the good that uses that factor intensively
A) benefit; abundant; export B) harm; abundant; import C) benefit; scarce; export D) benefit; scarce; import E) harm; scarce; export