The intersection between the long-run aggregate supply and aggregate demand curves determines the:
a. marginal product.
b. both level of full-employment real GDP, and average level of prices (CPI).
c. average level of prices (CPI).
d. level of full-employment real GDP.
b
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To evaluate the potential impact of introducing the hybrid Prius auto into the U.S. market, Toyota Motor Corporation would use:
A. normative economic analysis. B. positive economic analysis. C. forensic analysis. D. negative economic analysis.
Which one of the following would be recorded as a credit in the U.S. balance of payments accounts?
a. the purchase of an European-made car by an American b. the purchase of insurance from Lloyd's of London by an American business firm c. the purchase of an American-made computer by an European business d. the purchase of Japanese bonds by an American investor