You are a collector of baseball cards. In 2018, you purchase a Madison Baumgartner baseball card printed in 2012. This baseball card
A. is included in the 2012 GDP.
B. is in the 2012 and 2018 GDP.
C. excluded from the 2012 GDP.
D. included in the 2018 GDP.
Answer: B
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An implication of the downward slope of the demand curve for a monopolistic competitive firm is that
A) its marginal revenue curve slopes upward. B) its marginal revenue curve and its demand curve are identical (same) line. C) its marginal revenue curve slopes downward but lies above the demand curve. D) its marginal revenue curve slopes downward but lies below the demand curve.
Which of the following describes the relationship between net exports and imports?
a. Net exports = imports + exports b. Net exports = exports - imports c. Net exports = imports - exports d. Imports = net exports - exports e. Imports are not related to net exports