National income differs from net national product because
a. it includes profits of corporations.
b. of a statistical discrepancy.
c. it includes transfer payments.
d. it excludes depreciation.
b
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Suppose country X currently produces widgets. Then it establishes a preferential trading agreement with country Y. Following the formation of the PTA, country X no longer produces widgets and imports widgets from country Y. What has occurred?
a. There is trade diversion and a welfare gain for both country X and country Y. b. There is trade diversion, a welfare gain for country Y, and a welfare loss for country X. c. There is trade creation and a welfare gain for both country X and country Y. d. There is trade creation, a welfare gain for country Y, and a welfare loss for country X.
If a can of soda costs $1.00 today, how much would it cost in 12 months (1 year) if the prices go up by 50 percent per month?
A. about $130.00 B. about $7.00 C. about $6.00 D. about $24.00