________ is the total value of final goods and services produced within the borders of a country, using market prices from a specific base year to determine the value of each unit that is produced
A) Real gross domestic product
B) Gross national product
C) Total product
D) Nominal gross domestic product
A country produces only one good. It produced 5,000 units of the good during Year 1 and 6,000 units of the good in Year 2. The price of each unit of the good in Year 1 was $280 and it was $320 in Year 2. Suppose Year 1 is taken as the base year for the calculation of GDP.
A
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A decrease in government expenditure on goods and services
A) increases aggregate demand. B) increases the aggregate quantity demanded. C) decreases the aggregate quantity demanded. D) decreases aggregate demand.
Which type of unemployment is most likely to fall as a result of government policies that stimulate aggregate demand?
a. frictional unemployment b. structural unemployment c. natural unemployment d. cyclical unemployment
Which one of the following is not correct?
A. In antitrust cases defendants attempt to define the relevant market broadly. B. The courts have varied over time in their interpretations of the antitrust statutes. C. Antitrust suits can only be originated by the Federal Trade Commission. D. In antitrust cases the prosecution attempts to define the relevant market narrowly.
Which of the following will NOT lead to a shift in the investment function?
A. A firm is more certain about its future profitability. B. The cost of borrowing funds has decreased. C. The government just lowered business taxes. D. A new discovery leads to a technological advancement.