The chain-weighted output index method ________
A) is used to calculate the value of nominal GDP
B) values the quantities produced in a year at the prices of the base year
C) shows that real GDP increases every year
D) uses the prices of two adjacent years to calculate the real GDP growth rate
D
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Increases in capital per hour worked cannot sustain high rates of economic growth unless accompanied by technological change
Indicate whether the statement is true or false
If planned aggregate expenditure is greater than total production
A) actual inventories will equal planned inventories. B) the economy is in equilibrium. C) firms will experience an unplanned increase in inventories. D) GDP will increase.
If the LM curve is vertical, then
A) there is partial "crowding out" of an increase in government expenditures. B) the increase in the money supply will have no impact on the level of real GNP. C) the demand for money is highly sensitive to the interest rate. D) the velocity of money is constant.
Marginal utility
a. increases as more of a good is consumed b. increases as the total utility of consuming a good increases c. is the same as the utility of consuming a good d. is the same as the utility of consuming an additional unit of a good e. is the same for all units of a good, but varies from one consumer to another