In 2011, Armenia had a real GDP of approximately $4.21 billion and a population of 2.98 million. In 2012, real GDP was $4.59 billion and population was 2.97 million. Armenia's real GDP per person in 2012 was
A) $1,545.
B) $380.
C) $1,413.
D) $132.
A
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The M2 money supply is represented by
A) M2 = × MB. B) M2 = × . C) MB = × M2. D) MB = × .
Supply-side economists argue that taxing of nominal gains and interest earnings during inflationary periods
a. results in an increased effective tax rate on real returns but will not retard saving. b. will retard saving but will not increase the effective tax rate on real returns. c. will increase the effective tax rate on real returns and will retard saving. d. None of the above
Economists pay special attention to making choices at the margin
a. true b. false
Working as an elevator operator used to be a common job in the workforce four decades ago, but today few jobs remain. The unemployment created by the introduction of automatic elevators would be considered:
a. Structural b. Frictional c. Cyclical d. Wait