The table above gives the production and prices for a small nation that produces only bread and soda. The base year is 2009. What is nominal GDP in 2009?
A) $410
B) $450
C) $900
D) $550
E) $460
B
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Why does the GG schedule have a positive slope?
A) The monetary efficiency gain a country gets by joining a fixed exchange rate area falls as its economic integration with the area increases. B) The monetary efficiency gain a country gets by joining a fixed exchange rate area rises as its economic integration with the area decreases. C) The monetary efficiency gain a country gets by joining a fixed exchange rate area rises as its economic integration with the area increases. D) The monetary efficiency gain a country gets by joining a floating exchange rate area rises as its economic integration with the area increases. E) The monetary efficiency gain a country gets by joining a fixed exchange rate area is constant after their integration into the area.
The aggregate expenditure line is upward sloping since as GDP increases,
A) consumption increases B) investment increases C) government purchases increase D) net exports increase
A free rider is someone who
A) hops on the bus for free. B) enjoys the flowers I have planted and does not compensate me for them. C) creates a negative externality. D) buys a ticket for a movie.
If demand increases, the equilibrium price and equilibrium quantity will both fall, everything else being equal
a. True b. False Indicate whether the statement is true or false