Suppose that real GDP starts at 200 and grows at a rate of 9 percent per year for two years. In the third year real GDP would be
A) 183.49. B) 236. C) 237.62. D) 239.24.
C
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Regardless of how price inelastic the supply curve, tax revenue from a per-unit tax rises the more price inelastic the demand curve is.
Answer the following statement true (T) or false (F)
Today, the share of international trade in U.S. GDP is
A) almost 0 percent. B) about 10 percent. C) close to 30 percent. D) more than 99 percent.
Making a loan is generally:
A. less risky and more potentially rewarding than buying stock. B. more risky and less potentially rewarding than buying stock. C. less risky and less potentially rewarding than buying stock. D. more risky and more potentially rewarding than buying stock.
The concept of aggregate supply is a
a. fixed number. b. schedule. c. predetermined amount of output. d. All of the above are correct.