The inflation-adjusted value of final goods and services produced in the United States measures:
A. Nominal GDP.
B. Real GDP.
C. Per capita GDP.
D. GDP per worker.
Answer: B. Real GDP.
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The size of the customer population interested in buying subcompact cars increases by 20 percent during a year. This example shows a change in what PYNTE factor?
a. P b. T c. N d. E
An important source of structural unemployment is
A. people looking for the right job decide to change jobs. B. recessions. C. seasonal variations in aggregate demand. D. unemployment insurance benefits.
Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________.
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
Other things the same, an increase in the nominal exchange rate raises the real exchange rate
a. True b. False Indicate whether the statement is true or false