Real GDP is found by dividing:
A) Nominal GDP by the producer price index.
B) Nominal GDP by the consumer price index.
C) Nominal GDP by the prices paid index by farmers.
D) None of the above.
Answer: D
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Fed policies since the 1980s have attempted to
A) overshoot natural real GDP. B) undershoot natural real GDP. C) "stall" the economy whenever natural real GDP is growing too fast. D) A and B. E) none of the above.
Which of the following people is least likely to be hurt by inflation?
a. A salesperson who works on commission b. A retired couple living on a pension c. An individual who enters into a fixed-wage contract for the next three years d. An individual who agrees to lend money at a fixed rate of interest for the next three years e. An individual working at the minimum wage which seldom changes
How did the financial crisis of 2007 and 2008 affect the financial services industry?
What will be an ideal response?
Refer to the information provided in Table 13.2 below to answer the question(s) that follow. Table 13.2Price ($)Quantity10.0019.0028.0037.0046.0055.0064.007Refer to Table 13.2. If a monopoly faces the demand schedule given in the table and has a constant marginal and average cost of $2 per unit of providing the product, then the monopoly maximizes its profits by charging ________ per unit and selling ________ units of output.
A. $7; 4 B. $6; 5 C. $8; 3 D. $5; 6