If the economy grows at 10 percent from year 1 to year 2 and real GDP is 300 in year 1, what will real GDP be in year 2?
A. 10
B. 300
C. 315
D. 330
Answer: D
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Identify the correct statement
a. The United States was an international net debtor from the end of World War I until the mid-1980s. b. The United States was an international net creditor from the end of World War I until the mid-1980s. c. In 1945, the United States became an international net debtor for the first time in almost 70 years. d. In 1985, the United States became an international net creditor for the first time in almost 70 years. e. The net creditor status of the United States has grown steadily since 1985.
Between the end of World War II and 1971, the United States dollar was
A. the only major currency in the world convertible into gold for purposes of international payments. B. not used as an international currency. C. the only major currency in the world not backed by gold. D. not very important in the transfer of goods between countries.
Which of the following is the primary source of rapid growth in the real earnings of workers?
a. increases in the minimum wage b. government regulation of labor markets c. strong unions d. rapid growth in worker productivit
There are two firms in an industry and their products are perfect substitutes for each other. Each firm had a market share of 50% and charged equal prices
However, when the demand for the good declined due to a recession, Firm A lowered its price to increase sales. Firm B responded by lowering its price further. This is an example of the ________ of oligopoly. A) Bertrand model B) Cournot model C) Ricardian model D) Keynesian model