« previous next »

Author Question: Which of the following shows a negative relationship between the output and unemployment gaps? A) ... (Read 51 times)

asmith134

  • Hero Member
  • *****
  • Posts: 576
on: Jun 30, 2018
Which of the following shows a negative relationship between the output and unemployment gaps?
 
  A) the AS curve
  B) the Phillips curve
  C) Okun's law
  D) the classical dichotomy
  E) none of the above

Question 2

How does the treatment of international transactions differ with respect to gross national product and gross domestic product? Explain. Why do you think that the U.S government has switched from using GNP to using GDP
 
  What will be an ideal response?


firehawk60

  • Sr. Member
  • ****
  • Posts: 315
Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

Gross national product includes earnings of U.S. corporations overseas and U.S. residents working overseas, whereas gross domestic product does not include these earnings. Gross domestic product includes earnings from current production in the United States that accrue to foreign residents or foreign-owned firms, while gross national product excludes these items. GDP has become more attractive because in the current, more globalized economy, the nationality of workers and firms has become harder to distinguish. Hence, the switch to relying on location of production.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

asmith134

  • Hero Member
  • *****
  • Posts: 576
Reply #2 on: Jun 30, 2018
Correct answers!


firehawk60

  • Sr. Member
  • ****
  • Posts: 315
Reply #3 on: Jun 30, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Did you know?

Medication errors are three times higher among children and infants than with adults.

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?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Ventilation of the mammalian lung by negative pressure filling. Ventilation of the mammalian lung by negative pressure filling.
Localization of a Peptide The peptide is revealed by means of immunocytochemistry. The photomicrogra Localization of a Peptide The peptide is revealed by means of immunocytochemistry. The photomicrogra
Results from sequential study of two cohorts tested at three ages and at three different points in t Results from sequential study of two cohorts tested at three ages and at three different points in t
Technological advances are now so rapid that there can be cultural gaps between generations. Technological advances are now so rapid that there can be cultural gaps between generations.
In the drawing of acetaldehyde, CH3CHO, the largest partial negative charge (-) occurs on In the drawing of acetaldehyde, CH3CHO, the largest partial negative charge (-) occurs on
The pH scale and relationship between bicarbonate and carbonic acid The pH scale and relationship between bicarbonate and carbonic acid
Video: Deglutition

For a complete list of videos, visit our video library