Countries such as the United States that have large populations tend to have
A) higher trade-to-GDP ratios.
B) lower trade-to-GDP ratios.
C) relatively greater capital outflows.
D) relatively smaller capital outflows.
E) None of the above.
B
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Gross domestic product is the
A) value of the final goods and services produced in a country during a specific time. B) total amount that buyers spent on the final goods and services produced in a country during a specific time. C) total amount of income earned in producing the final goods and services in a country during a specific time. D) All of the above answers are correct.
Suppose a recession surprises economic forecasters who did not see it coming. This is an example of a _____
a. cyclical lag b. recognition lag c. decision-making lag d. implementation lag e. effectiveness lag