Use the following table to answer the next question.YearNominal GDPReal GDPPrice Index15,2004,800--25,500--11235,7505,000--What was real GDP in year 2?
A. $5,320 billion
B. $4,911 billion
C. $4,820 billion
D. $4,875 billion
Answer: B
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A decrease in a country's capital stock occurs when ________.
A. businesses sell machinery and equipment to one another B. the consumption of fixed capital exceeds gross domestic investment C. the prices of investment goods rise faster than the prices of consumer goods D. businesses have larger inventories at the end of the year than they had at the start
If the economy grew at 7 percent from 2015 to 2016 and real GDP was 400 in 2015, what was real GDP in 2016?
A) 393 B) 400 C) 407 D) 428
We will run out of renewable resources if we
a. do not ration them b. consume them faster than nonrenewable resources c. extract them faster than we consume them d. consume them faster than they regenerate e. continue to use them at any rate
In a certain country, the labor force is 30 million and the unemployment rate is 5 percent. What is the amount of unemployed individuals in this country?
(A) 15,000 (B) 1.5 million (C) 15 million (D) 150,000