Refer to above Table 2-2. What is the nominal GDP in year 2?
A) $18.60
B) $14.60
C) $18.00
D) 400 units
A
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Refer to Table 16.1. Consider the data in the table above (in billions of dollars) for an economy. Gross domestic product (in billions of dollars) for this economy equals
A) $2,700. B) $2,525. C) $2,350. D) $2,100.
If a country has a trade deficit, it:
A. Imports more than it exports. B. Does not export any goods. C. Is more dependent on trade than other countries. D. Sells more goods to foreigners than it buys from them.
Suppose Kaylee withdraws $4,000 from her bank. If the reserve ratio is 25 percent, then this will lead to a decrease in M1 of:
A. $1,000. B. $4,000. C. $8,000. D. $12,000.
The supply curve is a ________ line that reflects the ________ relationship between price and quantity supplied.
A. upward-sloping; direct B. upward-sloping; inverse C. downward-sloping; inverse D. downward-sloping; direct