Which of the following is correct?
A. Nominal GDP growth = real GDP growth ? inflation
B. Nominal GDP growth + inflation = real GDP growth
C. Nominal GDP growth + real GDP growth = inflation
D. Nominal GDP growth = inflation + real GDP growth
Ans: D. Nominal GDP growth = inflation + real GDP growth
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The interest payment on a bond is called
A) the coupon payment. B) the face value. C) principal. D) the interest rate.
Each person goes about her daily business seeking to maximize her own self interests. In doing so, she contributes to the welfare of society at large. This is the idea underlying Adam Smith's "invisible hand."
Indicate whether the statement is true or false
In perfect competition,
a. there are typically two or three equally powerful firms b. a large number of sellers offer a differentiated product c. the firm is a price taker d. marginal revenue cannot be calculated because the firm's demand is perfectly elastic e. the market demand and the firm's demand are perfectly elastic
What is meant by an asset bubble?