Holding other factors constant, a decline in incomes of Europeans will result in a ________ curve in the United States, reducing real GDP relative to potential GDP
A) leftward shift of the IS
B) rightward shift of the IS
C) upward shift of the MP
D) downward shift of the MP
A
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What most accurately describes the trend in the Gross Domestic Product of the US between 1870 and 2007?
a. Real GDP increased by about two percent per year. b. Although nominal GDP increased significantly, real GDP went up only slightly because of inflation. c. Both nominal and real GDP have been flat because the periods of inflation were offset by the periods of deflation. d. The fluctuations in GDP have become greater over time, and were largest in the late 1900s.
The purchase of a virtual item from an online company with a virtual currency causes the nation's:
a. Monetary base to fall. b. M2 money supply to fall. c. M2 money multiplier to fall. d. Monetary base to remain the same.
Refer to Table 3.1 to answer the following questionTable 3.1 Individual Demand and Supply SchedulesQuantity Demanded byPriceAlejandroBenCarlMarket$8.00842________6.001244________4.002046________2.002246________Quantity Supplied byPriceAveryBrandonCassandra $8.006046________$6.004244________$4.002442________$2.00640________In Table 3.1, if the price is $2, the market will
A. Experience a surplus of 30 units. B. Experience a surplus of 56 units. C. Experience a shortage of 22 units. D. Be in equilibrium.
A lender is promised a $100 payment (including interest) one year from today. If the lender has a 6% opportunity cost of money, he/she should be willing to accept what amount today?
A. $100.00 B. $94.34 C. $106.20 D. $96.40