The country of Old Jersey produces milk and butter, and it has published the following macroeconomic data, where quantities are in gallons and prices are dollars per gallon.
Between Year 1 and Year 2, the GDP deflator (based on Year 1 as a base year) rose
A. 83.33%.
B. 81.25%.
C. 123.00%.
D. 60.00%.
Answer: B
You might also like to view...
The long-run Phillips curve is ________ curve, and moving along the long-run Phillips curve, an increase in the inflation rate is associated with ________ in the natural unemployment rate
A) a downward sloping; no change B) a vertical; no change C) a downward sloping; a decrease D) a horizontal; no change E) an upward sloping; an increase
If positive externalities are present in a free market, ________ at any output level
A) the marginal cost of production equals the average cost of production B) the marginal social cost of production exceeds the marginal private cost C) the marginal private benefit from production equals marginal social benefit D) the marginal social benefit of production exceeds marginal private benefit
The relationship between consumption and disposable income is very unreliable and unpredictable.
Answer the following statement true (T) or false (F)
Which of the following is considered investment?
A. the purchase of IBM stock B. the acquisition of capital goods C. the purchase of government bonds D. the sale of foreign currency