Real GDP, as opposed to money (nominal) GDP, has been adjusted for changes in the general level of prices
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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Compared to the previous 20 years, productivity growth in the United States increased between 1996 and 2014
Indicate whether the statement is true or false
Economics
Any bank reserves over and above the level of required reserves are known as
a. federal funds. b. discounted reserves. c. excess reserves. d. surplus reserves.
Economics
Some costs do not vary with the quantity of output produced. Those costs are called
a. marginal costs. b. average costs. c. fixed costs. d. explicit costs.
Economics
In the short run, a reduction in the price of oil will cause
A) a reduction in output. B) an increase in the price level. C) a reduction in the interest rate. D) all of the above E) none of the above
Economics