Gross domestic product (GDP) figures tend to understate the quantity of goods and services available because:
a. GDP excludes the value of goods produced at home
b. many items are counted twice or more in the intermediate stages of production.
c. more women are entering the labor force.
d. firms often add less to inventories than they planned to.
e. exports are subtracted from GDP but imports are not added.
a
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What will be an ideal response?
If the U.S. Congress imposes a quota on imports of Japanese cars due to claims of "unfair" trade practices, and Japanese demand for American exports increases at the same time, then, in the long run ________, everything else held constant
A) the Japanese yen will appreciate relative to the U.S. dollar B) the Japanese yen will depreciate relative to the U.S. dollar C) the Japanese yen will either appreciate, depreciate or remain constant against the U.S. dollar D) there will be no effect on the Japanese yen relative to the U.S. dollar