The above table shows some national income accounting data for a nation. In this nation, gross domestic product is equal to ________ billion
A) $2,000
B) $2,300
C) $2,500
D) $2,800
D
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Real wages increased in industrialized countries in the twentieth century because the demand for labor:
A. increased more slowly than the supply of labor increased. B. decreased, while the supply of labor increased. C. increased more rapidly than the supply of labor increased. D. increased, while the supply of labor decreased.
Suppose a bank has $10 million in deposits with no excess reserves, and the reserve requirement is 20%. If the Fed reduces the reserve requirement to 5%, the bank can make a maximum loan of
A) $0. B) $0.5 million. C) $1.5 million. D) $2 million.
Which of the following options could be used to eliminate a recessionary gap?
a. Decrease consumption b. Increase investment c. Decrease investment d. Increase taxes
Which of the following is NOT a true statement?
A) It is unclear whether any of the decline in U.S. manufacturing employment can be attributed to Chinese growth. B) China's growth has been beneficial to many countries. C) China does not import many goods. D) China had large trade surpluses.