In the ordered pair (20, 30), 20 is the

a. the x-coordinate.
b. the horizontal location of the point.
c. the y-coordinate.
d. Both a and b are correct.


d

Economics

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The GDP price index can be interpreted as

A) (nominal GDP - real GDP) ÷ 100. B) (real GDP ÷ nominal GDP) × 100. C) (real GDP - nominal GDP) ÷ 100. D) (nominal GDP + real GDP) ÷ 100. E) (nominal GDP ÷ real GDP) × 100.

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When analyzing stages of economic development in the United States, it appears that we have entered the "tertiary stage." This is a stage marked by a shift toward

A) agriculture. B) manufacturing. C) services. D) population increases.

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If the market interest rate is 5 percent, the opportunity cost of $100 worth of present consumption

a. is $105 today b. is $105 next year c. is $5 today d. is $5 next year e. cannot be determined unless we know the consumer's rate of time preference

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Which of the following is a major contributing factor to frictional unemployment?

a. inflation b. lack of skills c. lack of information d. unpredictable weather

Economics