If real GDP rises, then so must nominal GDP.
Answer the following statement true (T) or false (F)
False
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The state of Georgia offers free college tuition to high school students with a "B" average. In 2007, the state raised the requirement so that fewer students qualified for the scholarship
At the same time, Georgia increased state spending on health care. Suppose that college education is on the vertical axis and health care is on the horizontal axis of a PPF. These changes A) are example of a tradeoff. B) are an example of incentives. C) will cause a shift out of the PPF. D) will cause a shift in the of the PPF.
The U.S. commercial airline industry is a good example of an oligopolistic market
a. True b. False Indicate whether the statement is true or false
In a situation where both firms in a two-firm, balanced oligopoly choose to avoid the worst case scenario
a. both firms will end up in the worst case b. both firms end up in a Nash equilibrium outcome c. only one firm will survive d. both firms end up charging different prices e. both firms end up with different profit margins
If the economy of Gwondanaland is growing more rapidly than the economy of Japan, most likely
a. Japan has more current investment than Gwondanaland. b. Japan has more government spending than Gwondanaland. c. Japan spends more on capital goods than Gwondanaland. d. Gwondanaland has lower current consumption than Japan. e. Gwondanaland has lower current investment than Japan.