In a fixed exchange rate system, rates are maintained by the central bank's ongoing purchases and sales of currencies

How is net national product (NNP) calculated?

a. Saving is added to the total income of a nation's citizens. b. Saving is added to the total income earned within a nation. c. Depreciation losses are subtracted from the total income of a nation's citizens. d. Depreciation losses are subtracted from the total income earned within a nation.

One advantage of a partnership is

A) lower costs. B) they are easy to form. C) all the profits go to the older partner. D) they are double taxed.