Author Question: The value of production generated by a country's factors of production within the borders of foreign ... (Read 92 times)

melina_rosy

  • Hero Member
  • *****
  • Posts: 531
The value of production generated by a country's factors of production within the borders of foreign countries during a particular year was 51,000 and the production of foreign factors of production within the borders of the country during that year
 
  was worth 80,000. Which of the following is likely to be true in this case?
  A) The GDP of the country equals its trade balance. B) The GDP of the country is lower than its GNP.
  C) The GDP of the country is higher than its GNP. D) The GDP of the country equals its GNP.

Question 2

Suppose bad weather in Florida unexpectedly results in a much smaller citrus crop than had been projected. The reduction in the supply of Florida citrus fruit would tend to
 
  A) shift the supply curve for Florida citrus fruit down and to the right.
  B) increase the price of Florida citrus fruit.
  C) increase the supply of California citrus fruit.
  D) decrease the price of California citrus fruit.


isabelt_18

  • Sr. Member
  • ****
  • Posts: 342
Answer to Question 1

C

Answer to Question 2

B



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Did you know?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

Everyone has one nostril that is larger than the other.

For a complete list of videos, visit our video library