If you buy a new water skis and other new equipment for $2,500 and take a week off of your job, where you earn $1,000 a week, to go water skiing. The equipment you purchased was all produced in the United States
You think that the week was worth $4,000. As a result of your vacation, GDP changes by how much?
GDP changes by only the $2,500 you spent on the water skis and other equipment.
Economics
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A widget costs $50 in the US and CAD$53 in Canada. The current exchange rate is 1USD=1.09CAD. At this rate,
a. The good costs more in the US b. The good costs more in Canada c. The good costs the same across the two countries d. None of the above
Economics
CPI refers to
a. the cost of producing a market basket of goods. b. the price of a market basket of goods. c. the Consumer Price Index. d. both the price of a market basket of goods and the Consumer Price Index.
Economics