If in some year real GDP was $25 billion and the GDP deflator was 68, what was nominal GDP?
a. $2.72 billion.
b. $17 billion.
c. $36.8 billion.
d. $43 billion.
b
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The figure above shows a nation's production possibilities frontier for apples and oranges
a) What combination of goods is represented by point A? b) What combination of goods is represented by point B? c) Which point represents an unattainable combination of goods?
Suppose there are only two goods, food and clothing, with food measured on the vertical axis. If the price of clothing changes, holding all else constant,
a. the budget line undergoes a parallel shift to the right b. the budget line undergoes a parallel shift to the left c. a new point of utility maximization will be reached d. the budget line becomes flatter e. the slope of the budget line remains constant
A country is likely to be better off in the long run if it pursues self-sufficiency
Indicate whether the statement is true or false
A horizontal merger is a merger between firms
A) earning roughly the same amount of profit. B) producing roughly the same products. C) regularly doing business of any sort with each other. D) standing in a supplier-purchaser relationship. E) that were previously independent.