Statistics show that the less developed a country is
A. the larger is the per capita income.
B. the larger is the share of industrial output in its total output.
C. the larger is the GDP.
D. the larger is the share of agricultural output in its total output.
Answer: D
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In response to an unanticipated easing of monetary policy, the Fed funds rate ________ at first, then ________ after 6 to 12 months
A) rises; returns most of the way to its original value B) falls; returns most of the way to its original value C) remains roughly unchanged; rises significantly D) remains roughly unchanged; falls significantly
If you believe that velocity is constant and that the aggregate supply curve is vertical, then the quantity theory of money would predict that a doubling of the money supply would cause a doubling of
a. nominal output and real output. b. nominal output and no change in real output. c. real output and no change in nominal output. d. the price level and real output.
If the prices of all goods and services rise during the year,
A. real GDP may fall. B. nominal GDP must rise. C. nominal GDP may increase. D. real GDP must rise.
Refer to the above table. If the price of the good produced is $5, the marginal revenue product of the 5th worker is
A. $100. B. $3350. C. $500. D. $670.