Increased production, but not increased inflation, will result in higher:
a. nominal GDP.
b. real GDP.
c. current dollar GDP.
d. money GDP.
b
You might also like to view...
Suppose that in 2015 a country has a population of 1 million and real GDP of $1 billion. In 2016, the population is 1.1 million and the real GDP is $1.1 billion. The real GDP per person growth rate is
A) $1000. B) positive. C) negative. D) zero.
Suppliers recognize there is a shortage in the market for their product when they notice that
a. the quantity supplied exceeds the quantity demanded. b. the quantity demanded is falling. c. inventories are falling. d. production exceeds new orders for the product. e. government economists announce a shortage exists.
The welfare rolls in the United States shot up most dramatically during the period
A. 1945-1949. B. 1960-1964. C. 1980-1984. D. 1990-1994.
Firms in a given industry are affected by the tariff imposed on the product they sell, but not by the tariffs imposed on their purchased inputs.
Answer the following statement true (T) or false (F)