If for a given year nominal GDP is $2,000 billion and real GDP is $1,500 billion, then the GDP price index is
A) 133.
B) 1.33.
C) 100.
D) 0.75.
E) 750.
A
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A common contractual precommitment strategy is ________.
A) a meet-or-release clause B) price visibility C) a most-favored-customer clause D) a meet-the-competition clause
Producer surplus is the amount a seller is paid minus the cost of production
a. True b. False Indicate whether the statement is true or false
Which of the following is an advantage of an in-kind transfer in comparison to a cash payment?
a. In-kind transfers cost less to administer than cash transfers. b. In-kind transfers restrict the use of the benefit; thus, recipients receive necessities such as food and health care. c. In-kind transfers are more efficient than cash transfers. d. In-kind transfers give the recipient more utility than cash transfers.
GDP excludes expenditures by:
A. businesses on pollution control equipment. B. business for travel and entertainment. C. consumers on used automobiles. D. government on military hardware.