Which of the following is true about GNP?
a. includes profits earned by a Mercedes factory in Alabama
b. excludes profits earned by General Electric in India
c. measures the market value of all goods and services produced by resources supplied the home country's residents and firms, regardless of the location of the resource
d. stands for Generally Nice Products
e. used by countries to classify the World Bank
C
Economics
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The quantity theory of money was derived from the quantity equation by asserting that
A) real output was fixed. B) the money supply was fixed. C) the velocity of money was zero. D) the velocity of money was fixed.
Economics
As real GDP increases, ceteris paribus, the slope of the aggregate supply curve
A. decreases. B. increases. C. is always zero. D. remains unchanged.
Economics