If prices increased, we need to adjust nominal GDP values to give us a measure of GDP for various years in constant-dollar terms. We refer to that adjustment as:
A. Inflating GDP
B. Deflating GDP
C. Compounding GDP
D. Indexing GDP
B. Deflating GDP
Economics
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Refer to the table above. If the market is perfectly competitive, the equilibrium quantity of calculators is:
A) 3 units. B) 5 units. C) 6 units. D) 8 units.
Economics
After the Civil War, wheat production became regionally specialized and output production in the Midwest increased consequently
Indicate whether the statement is true or false
Economics
Which of the following can allow oligopoly firms to reap monopoly profits?
a. Use of advanced technology b. Formation of cartels c. Independent decision making d. High investment in advertising
Economics
All of the following are non-price determinants of supply except
A) costs. B) technology. C) income. D) future expectations.
Economics