Refer to Table 8-14. Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The GDP deflator for 2016 equals
A) 92.2. B) 102.6. C) 108.5. D) 109.1.
C
You might also like to view...
A decrease in a fixed exchange rate from $1.75 per pound to $1.60 per pound is called a(n) ________ of the pound
A) devaluation B) depreciation C) revaluation D) appreciation
The short run is a period of time during which:
a. there is an expansionary gap that cannot be corrected using the passive approach. b. actual output equals potential output c. there is a recessionary gap that cannot be corrected through discretionary policy. d. resource buyers and sellers cannot adjust fully to changes in the price level. e. resource buyers and sellers can adjust fully to changes in the price level.
How does a perfect market influence output?
(A) Different firms each strive to make more goods and capture more of the market. (B) Different firms make different amounts of goods, but some make a profit and others do not. (C) Each firm makes its output as large as possible even though some goods are not sold. (D) Each firm adjusts its output so that its costs, including profit, are covered.
The aggregate demand curve slopes downward because a rise in inflation? leads:
A. the fiscal policy authorities to impose contractionary fiscal measures. B. the monetary policy authorities to raise real interest rates. C. the monetary policy authorities to impose credit controls. D. consumers and businesses to increase autonomous expenditures.