GDP is the market value of:
A. national income distributed to producers, consumers, and investors in an economy.
B. economic resources used in the production of annual output in an economy.
C. all final goods and services produced in an economy in a given year.
D. consumption and investment spending in an economy in a given year.
Answer: C
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If there is a great deal of violence and uncertainty in the country of Crazico, people will be less willing to invest in their own future or in the future of Crazico
a. True b. False
Although the GATT was supported by most of the countries of the world, yet global trade shrank during the close of the last decade. This was due to:
a. growing suspicion among the nations of the world. b. hyperinflation in the major economies of the world. c. the recession which began in 2007. d. political turmoil in the Asian countries. e. the desire among the major players to dominate the international market.