Suppose Smith pays $100 to Jones.
a) We can say with certainty that the GDP has increased by $100.
b) We can say with certainty that the GDP has increased, but we cannot determine the amount.
c) We can say with certainty that the nominal GDP has increased, but we can't say whether real GDP has increased or decreased.
d) We need more information to determine whether GDP has changed.
d) We need more information to determine whether GDP has changed.
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Federal deposit insurance in the United States began in
A) 1864. B) 1933. C) 1968. D) 1984.
An economic boom predicts the new equilibrium wage would be:
A. lower because the labor demand curve shifts left. B. higher because the labor demand curve shifts left. C. lower because the labor demand curve shifts right. D. higher because the labor demand curve shifts right.
The most glaring economic problem in the former Soviet Union was
A. a shortage of military goods. B. a surplus of military goods. C. a shortage of civilian goods. D. a surplus of civilian goods.
The unemployment rate equals the number of people:
A. unemployed. B. unemployed divided by the labor force. C. unemployed divided by the number employed. D. unemployed plus discouraged workers divided by the labor force.