How is the GDP deflator is calculated
What will be an ideal response?
The GDP deflator equals 100 times the nominal GDP divided by real GDP, or in terms of symbols, the GDP deflator equals (100 ) × (nominal GDP) ÷ (real GDP).
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Suppose the current exchange rate between the Chinese yuan and the United States dollar is 7 yuan per dollar. If the Fed sought to drive up the exchange rate to 8 yuan per dollar then it would
A) buy dollars. B) sell dollars. C) buy yuan. D) sell dollars and buy yuan.
An advantage of Microsoft Windows is its compatibility with the widest range of hardware and software
The dominance of Windows is self-reinforcing: hardware and software manufacturers ensure that their products are compatible with Windows in order to have access to the large number of Windows users. Which principle best describes this scenario? A) network externalities B) economies of scale C) endorsement effects D) endowment effects
Which of the following items does not provide a store of value?
a. Currency. b. Checkable deposits. c. Credit cards. d. All of these are correct.
Which of the following represents the firm's long-run condition for exiting a market?
a. exit if P < MC b. exit if P < FC c. exit if P < ATC d. exit if MR < MC