If real GDP for a given year is $2400 billion and nominal GDP is $2400,
A) this year is the base year for the GDP deflator.
B) the GDP deflator for this year is 1.25.
C) the GDP deflator for this year is 0.8.
D) the GDP deflator for this year is 1.10.
A
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In a two-good economy, the price of video games is $40 and the price of energy drinks is $2. If the annual output of this economy is 100 video games and 500 drinks, the GDP is ________
A) $50,080 B) $25,200 C) $5,000 D) $20,200 E) none of the above
The argument that the government did not favor good trusts, but forbade all, is support for the __________ approach to antitrust
a. rule of reason b. countervailing power c. nationalization d. per se e. laissez-faire
In the United States, the central bank is the:
A. National Bank of the United States. B. Congressional Budgeting Office. C. Federal Reserve. D. Treasury.
In the above figure, if d4 is the relevant demand curve for this firm, then which level of output will maximize this firm's profits or minimize its losses?
A. A B. B C. C D. D