Real GDP =________ where the price level is the ________
A) Nominal GDP × Price level; GDP deflator
B) Nominal GDP ÷ Price level; GDP deflator
C) Nominal GDP ÷ Price level; CPI
D) Nominal GDP × Price level; CPI
E) none of the above
B
You might also like to view...
An increase in the amount of currency held by the public will raise the value of the deposit expansion multiplier
a. True b. False Indicate whether the statement is true or false
To derive personal income from national income, you
a. subtract retained earnings, Social Security taxes, and transfer payments, and add in corporate business taxes b. subtract retained earnings, Social Security taxes, corporate business taxes, and add in transfer payments c. subtract retained earnings, corporate business taxes, and transfer payments, and add in Social Security taxes d. subtract corporate business taxes, Social Security taxes and transfer payments, and add in retained earnings e. subtract Social Security taxes, retained earnings, and personal taxes, and add in transfer payments
A person cutting up her credit cards in an effort to curb her spending is an example of:
A. a commitment device. B. status quo bias. C. loss aversion. D. the endowment effect.
Firms that seek to avoid hiring lazy workers that assert they are hardworking are trying to avoid
A) adverse selection. B) moral hazard. C) screening. D) signaling.