The Real GDP of country X doubled in 10 years. It follows that
A) the per-capita Real GDP doubled during this time, too.
B) the per-capita Real GDP remained stable during this time.
C) the per-capita Real GDP fell during this time.
D) disposable income also doubled during this time.
E) none of the above
E
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What was the per capital income level for the United States in 2011?
a. $28,100 b. $38,100 c. $48,100 d. $58,000
Give an example that shows why price index has to be used to accurately calculate GDP statistics. Avoid using examples given in the text.
What will be an ideal response?
If 
j is an OLS estimator of a regression coefficient associated with one of the explanatory variables, such that j = 1, 2, …., n, asymptotic standard error of 
j will refer to the:
A. estimated variance of 
j when the error term is normally distributed.
B. estimated variance of a given coefficient when the error term is not normally distributed.
C. square root of the estimated variance of 
j when the error term is normally distributed.
D. square root of the estimated variance of 
j when the error term is not normally distributed.
In both New Zealand and Canada, what has happened to the unemployment rate since the countries adopted inflation targeting?
A) The unemployment rate increased sharply. B) The unemployment rate remained constant. C) The unemployment rate has declined substantially after a sharp increase. D) The unemployment rate declined sharply immediately after the inflation targets were adopted.