Gross national product, GNP, of the United States is the market value of all final goods and services
A) consumed by citizens of the United States anywhere in the world.
B) consumed within the United States.
C) produced within the United States.
D) produced by citizens of the United States anywhere in the world.
D
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According to purchasing-power parity, if over the course of a year the price level in the U.S. rises more than in Canada, then which of the following rises?
a. the U.S. real exchange rate, but not the U.S. nominal exchange rate b. the U.S. nominal exchange rate, but not the U.S. real exchange rate c. the U.S. nominal exchange rate and the U.S. real exchange rate d. neither the real exchange rate nor the nominal exchange rate
Unemployment involving a mismatch of the skills of unemployed workers and the skills required for available jobs is called:
A. frictional unemployment. B. structural unemployment. C. cyclical unemployment. D. compositional unemployment.