Assuming that inflation has occurred over time, what is the relationship between nominal GDP and real GDP in each of the following situations In the base year, nominal GDP _____ real GDP
Fill in the blank(s) with the appropriate word(s).
Answer: is equal to
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What are the primary reasons for and against a policy of "too big to fail."
What will be an ideal response?
An apple orchard currently hires 10 workers. The owner estimates that hiring an additional worker would increase apple yields by 20 bushels per day. The price of apples is $15 per bushel. The owner should hire the extra worker if the wage rate is no greater than
a. $50 per day. b. $150 per day. c. $200 per day. d. $300 per day.
Which of the following statements about economic growth is true?
What will be an ideal response?
When nations desire a healthy macroeconomy, they typically focus on three goals, one of these being:
A. balanced budget B. prudent monetary policy C. low inflation D. assuring competition between firms