Which aggregate measure is used to determine whether or not a country is experiencing a recession?
A) Nominal GDP
B) Nominal interest rate
C) Real GDP
D) Real interest rate
E) Gross business inventory investment
C
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An unregulated paint factory that pollutes a river results in ______ and _____
A. overproduction; a price that exceeds the marginal benefit from the good B. underproduction; a price that equals the marginal benefit from the good C. the efficient quantity produced; a marginal benefit equal to the mar-ginal social cost D. an inefficient quantity produced; a marginal benefit below the mar-ginal social cost
Political factors influence international trade because
a. foreign trade always involves at least two governments. b. foreign governments are much less concerned with the welfare of citizens in other countries. c. foreign governments often establish impediments to free international trade. d. All of the above are correct.
An investment in an economy's human and physical capital results in an increase in the: a. supply of money
b. inflation rate in the economy. c. gross domestic product of the economy. d. level of foreign reserves in the economy.
Disinflation refers to a situation where:
a. Price level rises, but the rate of inflation does not b. The rate of inflation rises, but the price level does not c. Price level falls, but the rate inflation does not d. The rate of inflation falls, but the price level does not