In the above table, saving is positive when real disposable income is greater than
A) $300. B) $100. C) zero. D) $500.
D
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Antony's Pizza uses the same dough, sauce, and cheese for pizza and calzones. When the price of pizza is low Antony produces more calzones. For Antony, the supply of pizza is ________ compared to the supply at a pizza restaurant that does not serve calzones.
A. higher B. lower C. less price elastic D. more price elastic
If the price of Sea World tickets increased what might we expect to see happen to tickets for Disneyland?
A. Decreased supply of Disneyland tickets B. Increased demand for Disneyland tickets C. Decreased demand for Disneyland tickets D. Increased supply of Disneyland tickets
If real GDP declines in a given year, nominal GDP ________.
A. must also be increasing B. may either rise or fall C. must also be declining D. is likely to remain constant
If Year 1 is the base year, the real GDP of Year 2 is
A) $800. B) $1050. C) $1900. D) $2400.