The natural level of real GDP is that level of
A) real GDP at which the price level will continue increasing.
B) nominal GDP at which the price level will remain constant.
C) real GDP at which there is no tendency for inflation to accelerate or decelerate.
D) Nominal real GDP at which the price level will continue to decrease.
C
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According to this Application, residents of Greece in 2015 ________ withdrawals of funds from their banks in order to hold ________ cash
A) decreased; less B) increased; more C) increased; less D) decreased; more
Julia prepares tax returns and does bookkeeping. Last year her revenues from the tax and bookkeeping business were $150,000 . and her expenses for the business were $15,000 . When she started her tax and bookkeeping business, Julia gave up her supplemental job doing in-home pet sitting. She used to earn $10,000 per year from pet sitting. Assume that she incurred no costs for her pet sitting
business. Julia's implicit costs are a. 0. b. $10,000. c. $15,000. d. $25,000.
An In the News article titled "U.S. Winemakers Hurt by Imported Wine" discusses foreign wine sold in the U.S. market. California grape growers' main complaint was that
A. The state had removed all subsidies due to the financial crisis that had left the budget in disarray. B. The growing strength of the dollar makes it hard to compete C. The weather had hurt their business. D. California wineries were not buying domestic grapes but were selling wine and calling it "100% pure American."
Refer to the graph shown. Assuming that the monopoly maximizes profit, it will earn profits of:
A. $20,000 per day. B. $160,000 per day. C. $8,000 per day. D. $40,000 per day.