The GDP deflator is designed to
What will be an ideal response?
adjust nominal GDP for changes in the price level.
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Real interest rates at times have been negative. Why would anyone lending money agree to a negative real interest rate?
What will be an ideal response?
The problem the agent faces when deciding which agent to hire is called
a. Adverse selection b. Moral hazard c. Both of the above d. None of the above
Which of the following observations is true of the federal budget between 1960 and 2010?
a. The federal budget was in deficit in the early 1960s. b. Between 1960 and 1970 the federal budget deficit reflected a sharp increase. c. The federal budget was in surplus between 1970 and 1980. d. The federal budget deficit was the highest in the late 1990s. e. The federal budget deficit was lower than 600 billion dollars in 2010.
Which of these is the basis of international trade?
A. Absolute advantage B. Comparative advantage C. Both comparative advantage and absolute advantage D. Neither comparative advantage nor absolute advantage