Suppose Chevrolet produced 90,000 Camaros in the United States in 2012 and during 2012 sold 69,000 to U.S. customers and exported 14,000 to foreign buyers. The remaining Camaros were sold to U.S. customers in 2012
How many of these Camaros would count as a part of U.S. GDP in 2012? A) 69,000
B) 76,000
C) 83,000
D) 90,000
D
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Aristotle believed voluntary trade should be
A) an exchange of unequal values. B) an exchange of equal values. C) an exchange of equal material possessions. D) an exchange of unequal material possessions.
Which of the following statements draws a false conclusion?
a. Life expectancy in an average African country is lower than in an average European country; therefore Europeans can expect to outlive Africans. b. Nations that currently produce no capital goods, and whose inhabitants are hungry, risk famine with internally funded capital investments. c. Some African nations have substantially more food and capital investment than others; therefore, their standard of living is higher. d. Population reduction policies, if effective, can improve the nation's wealth by increasing real per capita GDP. e. The vicious circle of poverty argument states that poverty precludes capital investment and that no capital investment perpetuates poverty.