If a country's real GDP is rising by 3% per year while its population is rising at 5% per year, which of the following is true?
A) Growth in nominal GDP is less than the growth in the population.
B) The country's standard of living is falling.
C) The country's standard of living is rising.
D) Growth in nominal GDP outweighs growth in the population.
B
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The table above gives data for the nation of Syldavia. The official settlements account has a
A) $40 billion surplus. B) balance of $380 billion. C) $30 billion deficit. D) zero balance. E) $40 billion deficit.
Suppose your tastes can be represented by the utility function 
. Your demand function for 
is
A.
.B.
.C.
D.
Inflation is defined as an increase in:
a. real wages of workers. b. real GDP. c. the average price level. d. all consumer products.
The rate of inflation is a topic of macroeconomics.
Answer the following statement true (T) or false (F)