If the value of the output generated by a country's factors of production within the borders of foreign countries is higher than the value of output of foreign factors of production within its borders, ________
A) the GDP of the country is higher than its GNP B) the GDP of the country equals its trade balance
C) the GDP of the country equals its GNP D) the GDP of the country is lower than its GNP
D
Economics
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The time gap between a nation's decision to implement a corrective economic policy and the actual results of the policy is known as the:
A) inside lag. B) inside lapse. C) outside lag. D) outside lapse.
Economics
If a marginal cost pricing rule is imposed on the firm in the figure above, the consumer surplus will be
A) zero. B) $800. C) $400. D) $200.
Economics