If real GDP decreased by 1% and nominal GDP increased by 2%, then output:
a. increased and the price level increased.
b. increased and the price level decreased.
c. decreased and the price level increased.
d. decreased and the price level decreased.
c
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Use the figure below to answer the following question.
The marginal benefit of the third unit of X is
A. 4. B. 5. C. 2. D. 15.
The most liquid asset is
A) a house. B) stocks of a highly profitable company. C) gold. D) money.
For the U.S. economy, which of the following helps explain the slope of the aggregate-demand curve?
a. An increase in the price level decreases the interest rate. b. An increase in the price level increases the interest rate. c. An increase in the money supply decreases the interest rate. d. An increase in the money supply increases the interest rate.
Figure 9.6In Figure 9.6 if price is P1, then the industry will:
A. expand. B. contract. C. stay the same size. D. merge.