Answer: D. 190.0%.
Between 2003 and 2004, nominal GDP grew by
The country of Old Jersey produced milk and butter, and it has published the following macroeconomic data, where quantities are in gallons and prices are dollars per gallon.
A. 60.0%
B. 65.5%
C. 83.3%
D. 190.0%.
Economics
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Suppose that prices in France increase by 8 percent while prices in the United States remain relatively stable. We would expect that (on the foreign exchange market) the demand for U.S. dollars will __________ and the supply of U.S. dollars will __________
A) increase; decrease B) increase; increase C) decrease; decrease D) decrease; increase
Economics
If the elasticity of demand for a good at a certain price is greater than one, we describe demand as _____.
(A) Unitary elastic (B) Elastic (C) Inelastic (D) Variable
Economics
The system that measures the economy's overall performance is formally known as:
A. national income accounting. B. business cycle measurement. C. GDP assessment. D. final output and income statistics.
Economics
If an economy experiences a $0.8 trillion increase in investment resulting in an increase in real GDP from $10 trillion to $12 trillion,
a. what is the change in equilibrium expenditure? b. what is the change in autonomous expenditure? c. what is the multiplier? d. how would an increase in the marginal tax rate effect the multiplier?
Economics