If no foreign companies produce in a country, but many of the country's companies build products in foreign countries, then it is safe to say that _____.
(A) The country's GDP and GNP are equal.
(B) The country's GDP is greater than its GNP.
(C) The country's GDP is equal to its national income.
(D) The country's GNP is greater than its GDP.
Ans: (D) The country's GNP is greater than its GDP.
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Over the past three decades, the United States has
a. generally had, or been very near to a trade balance. b. had trade deficits in about as many years as it has trade surpluses. c. persistently had a trade deficit. d. persistently had a trade surplus.
The money supply curve is vertical if
A) banks and the Fed jointly determine the money supply. B) the Fed is able to completely determine the money supply. C) banks and households determine the money supply. D) households and the Fed jointly determine the money supply.