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1When is GDP roughly the same as GNP?For countries with a large amount of foreign direct investment and return of profits to country of originFor countries that rely on production owned by nationals located overseas that is not offset by foreign investmentFor countries that have a higher growth trajectory than othersFor countries where nationals’ offshore production is countered by domestic production by foreignersCONCEPTInternational Comparisons2Which of the following describes one of the unexpected benefits of China's economic policies? The GDP of the United States increased, and the GDP of China decreased.The standard of living in the United States increased.The Chinese central bank printed extra currency to exchange with the UnitedStates.U.S. exports to China increased.CONCEPTInternational Trade and Aggregate Demand3An increase in which of the following will cause a rightward shift of AD?
FloatPegImportsExportsCONCEPTInternational Trade and Aggregate Demand4Which of the following are we NOT able to tell about a country's economic health by looking at labor force participation rates by gender?Measure of income inequalityStandard of livingLevel of gender equalityAccess and availability of jobsCONCEPTLabor Force Participation Rates by Gender5The record of all monetary transactions that flow across a country's borders is known as which of the following?Capital accountBalance of paymentCurrent account
National income accountingCONCEPTRole of International Trade6Which statement below is true of ONLY fiscal policy?Used to alter ADA policy typically set by a banking authorityIncreases the availability of moneyUses government expenditures to create demandCONCEPTMonetary and Fiscal Policy7