Refer to Table 10.1. Equilibrium real GDP for this economy is equal to
A) $5.75 billion.
B) $12 billion.
C) $23 billion.
D) $46 billion.
C
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Allocative efficiency means which of the following?
a. Producing at the lowest cost b. Producing without waste c. Producing what consumers prefer d. Producing what sellers prefer
An externality is the impact of
a. society's decisions on the well-being of society. b. a person's actions on that person's well-being. c. one person's actions on the well-being of a bystander. d. society's decisions on the poorest person in the society.
When the consumer price index increases, the value of your money has _____. According to the quantity theory of money this is caused by an increase in the _____
Fill in the blank(s) with correct word
When the euro ______ in value compared to the U.S. dollar this means that the U.S. dollar ______ in value compared to the euro.
a. increases; increases b. depreciates; appreciates c. appreciates; increases d. depreciates; depreciates