A country’s gross national product (GNP) is
A.the value of all final goods and services produced by its factors of production and sold on the market in a given timeB.the value of all intermediate goods and services produced ...
GDP is supposed to measure
A.the volume of production within a country’s bordersB.the volume of services generated within a country’s bordersC.the volume of production of a country’s output.D.GNP plus dep...
GNP equals GDP
A.minus net receipts of factor income from the rest of the worldB.plus receipts of factor income from the rest of the worldC.minus receipts of factor income from the rest of the wo...
Which one of the following expressions is the most accurate?
A.CA = EX –IMB.CA = IM –EXC.CA=EX=IM.D.CA = EX +IME.None of the aboveAnswer: A
A country’s current account
A.balance equals the change in its net foreign wealth.B.balance equals the change in its foreign wealth.C.surplus equals the change in its foreign wealth.D.deficit equals the chang...
The CA is equal to
A.Y – (C-I+G).B.Y + (C+I+G).C.Y – (C+I+G).D.Y – (C+I-G).E.Y – (C+I+G) = -CA, (i.e., minus the CA).Answer: C
For open economies,
A.S =IB.S = I +CA.C.S = I –CAD.S > I + CA.E.S < I +CAAnswer: B
An open economy
A.can save only by building up its capital stock.B.can save only by acquiring foreign wealth.C.cannot save either by building up its capital stock or by acquiring foreign wealth....
In an open economy, private saving, Sp, is equal to
In an open economy, private saving, Sp, is equal toA.I - CA + (G - T).B.I + CA - (G - T).C.I + CA + (G - T).D.I - CA - (G - T).E.I + CA + (G + T).Answer: C
Every international transaction automatically
A.once either as a credit or as a debit.B.twice, once as a credit and once as a debit.C.once as a credit.D.twice, both times as debit.E.None of the above. Answer: B
An annual statement of all the transactions
A.national accountB. balance of payments account.C.current accountD. all of the aboveAnswer: B
In terms of the current account,
A.a 2100 million dollar credit. B. a 2100 million dollars suplus.C.a 600 million dollar deficit. D. a 900 million dollar deficit.Answer: C
