If real GDP is greater than nominal GDP then the GDP price index
A) is greater than 100.
B) is less than 100.
C) is equal to 100.
D) is either equal to or greater than 100.
E) None of the above answers is correct because we need to choose a new base year.
B
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Explain the reason behind the declining gap between average cost (AC) and average variable cost (AVC) curves at higher levels of output
In the long run, a perfectly competitive industry tends to develop differentiated products
a. True b. False Indicate whether the statement is true or false
Assume the real U.S. GDP in 1997 was $7,269 billion and the U.S. population was 268 million, and the real U.S. GDP in 1998 was $7,552 billion and the U.S. population was 270 million. From 1997 to 1998, the per capita real GDP
A. Remained unchanged. B. Increased. C. Decreased. D. Cannot be determined from the information given.
The M1 measure of money consists of the sum of
A. currency, checking deposits, and savings deposits. B. currency, checking deposits, and travelers' checks. C. checking deposits and travelers' checks. D. currency and travelers' checks.