Real GDP is GDP in a given year
A) adjusted only for anticipated inflation.
B) adjusted only for unanticipated inflation.
C) valued in the prices of that year.
D) valued in the prices of the base year.
Answer: D
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Recent income distribution figures in the United States show
A) slightly more inequality. B) less inequality. C) greater equity. D) less equity.
In the above table, if the marginal revenue product is $26, how many workers will the profit maximizing monopsonist hire and what wage will they pay each worker?
A) 5; $18 B) 5; $16 C) 4; $16 D) 6; $30
The ____________ was designed to raise revenue and achieve mercantilist goals, while the ____________ was simply intended to raise revenue
a. Sugar Act; Tea Act b. Tea Act; Molasses Act c. Sugar Act; Stamp Act d. Stamp Act; Hat Act
How are the effects of the financial crisis shown using the Phillips curve diagram?