FINA 6402 Final 2024 Questions & Answers | 100% Correct | Verified

Which of the following topics are more likely to be studied by a macroeconomist than by a microeconomist? - a)the effect of taxes on the prices of airline tickets, and the profitability of automobile-manufacturing firms b)the price of beef, and wage differences between genders c)how consumers maximize utility, and how prices are established in markets for agricultural products D)the percentage of the labor force that is out of work, and differences in average income from country to country D Which of the following statements about GDP is correct? - a) GDP measures two things at once: the total income of everyone in the economy and the total expenditure on the economy's output of goods and services. b)Money continuously flows from households to firms and then back to households, and GDP measures this flow of money. c)GDP is generally regarded as the best single measure of a society's economic well-being. D)All of the above are correct. D Sheri, a U.S. citizen, works only in Germany. The value she adds to production in Germany is included - a)in both German GDP and U.S. GDP.