If a nation's nominal GDP is $3,257 million and its price level is 110, then its real GDP is
A. $2960.9 million.
B. $24.67 million.
C. $1960.9 million.
D. $2467.42 million.
Answer: A
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In terms of a nation's production possibilities frontier, what impact does international trade have?
A) International trade shifts the nation's production possibilities frontier outward. B) International trade shifts the nation's production possibilities frontier inward. C) International trade allows the nation to consume at a point outside its production possibilities frontier. D) International trade shifts the production possibilities frontier outward for the goods that are exported and inward for the goods that are imported. E) International trade shifts the production possibilities frontier outward for the goods that are imported and inward for the goods that are exported.
The marginal social benefit curve for a product can be the same as the good's
A) marginal cost curve. B) supply curve. C) demand curve. D) consumer surplus curve.
Which of the following will shift the demand curve for a good?
A) a change in the technology used to produce the good B) a decrease in the price of a complementary good C) an increase in the price of the good D) a decrease in the price of the good
Since 1942, the number of school districts in the United States has declined by almost _____ districts
a. 25,000 b. 50,000 c. 75,000 d. 100,000