The GDP deflator is a measure of the overall change in prices in an economy:
A. using the ratio of nominal to real GDP.
B. based on goods and services valued at constant prices.
C. based on price-changes determined when output is held constant.
D. using the ratio of real to nominal GDP.
A. using the ratio of nominal to real GDP.
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Rika's opportunity cost of producing 100 t-shirts is 50 jackets. Jeff's opportunity cost of producing 75 t-shirts is 25 jackets. Who should specialize in jackets?
A) Rika B) Jeff C) neither D) both E) More information is needed about their production possibilities frontiers to determine who should specialize in jackets.
Diversifying
a. increases the standard deviation of the value of a portfolio indicating its risk has increased. b. increases the standard deviation of the value of a portfolio indicating its risk has decreased. c. decreases the standard deviation of the value of a portfolio indicating its risk has increased. d. decreases the standard deviation of the value of a portfolio indicating its risk has decreased.
The period of growth in real GDP between the trough of the business cycle and the next peak is called the:
A. recessionary phase. B. recovery phase. C. contractionary phase. D. cyclical phase.
Which of the following is an example of an automatic stabilizer?
What will be an ideal response?