Real GDP is GDP
What will be an ideal response?
valued at constant prices
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When considering imports and exports, economists include the ________ as a component of the GDP
A) net exports B) total imports C) gross exports D) total exports
If an entire industry relocates to a foreign country, the relocation leads to a higher rate of ________ unemployment
A) frictional B) structural C) structural and frictional D) cyclical E) structural and cyclical
Which of the following provide increased competition for public schools?
a. homeschooling b. charter schools c. vouchers d. all of the above
Which of the following is an advantage of automatic stabilizers?
A) The lag for automatic stabilizers is relatively long. B) It is much easier to measure the impact of automatic stabilizers compared to the impact of discretionary fiscal policy. C) There is no administrative cost to implementing automatic stabilizers. D) Because they affect disposable personal income directly, automatic stabilizers act swiftly to reduce the degree of changes in real GDP.