The current exchange rate system in Canada is best described as a

Suppose that Firestone Tires buys raw rubber for $5,000 and then uses this to make tires it sells for $20,000 . As a result, GDP has risen by:

a. $20,000 b. $5,000 c. $15,000 d. $25,000

The oversimplified formula for the multiplier yields a number that is too large due to the exclusion of

a. variable imports. b. changes in the price-level. c. income taxes. d. All of the above.