Which is greater, gross domestic product or national income? By how much?

a. Gross domestic product < National income; indirect business taxes, depreciation, and income earned by foreigners in the United States
b. Gross domestic product < National income; net exports and indirect business taxes
c. Gross domestic product > National income; net exports and indirect business taxes
d. Gross domestic product > National income; indirect business taxes, depreciation, and income earned by foreigners in the United States

d

Economics

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Since Britain withdrew from the ERM in 1992, what has it done with regard to fixing its exchange rates?

A) Britain has joined with the euro, forgoing its long-standing independence. B) Britain has put the pound back on solid footing by backing it with gold. C) Britain has retained its independent pound currency and not joined the currency union of Europe. D) Britain has abandoned its own monetary authority for the certainty of fixed exchange rates with its largest trading partners.

Economics

You're traveling in Ireland and are thinking about buying a new digital camera. You've decided you'd be willing to pay $125 for a new camera, but cameras in Ireland are all priced in euros

If the exchange rate is 0.85 euros per dollar, what's the highest price in euros you'd be willing to pay for a camera? A) 105 euros B) 106.25 euros C) 110.15 euros D) 147 euros

Economics