The nominal gross domestic product (GDP) for a country was $1,000 in 2003 and $1,500 in 2004 . The GDP price index was 100 in 2003 and 150 in 2004 . Between 2003 and 2004, real GDP _____

a. increased by $500
b. increased by $333
c. increased by $50
d. remained the same
e. decreased by $50


d

Economics

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How does Gordon integrate the exogenous factors affecting economic growth into the production function for an economy?

A) Y = A(G,R,H) F(K,P,T,N) B) Y = A(G,P,T) F(K,R,H,N) C) Y = A(G,P,T,R) F(K,H,N) D) Y = A(P,T,K) F(G,R,H,N)

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Banks can create

a. income b. power c. wealth d. money e. capital stock

Economics

For the United States, U.S. direct foreign investment abroad is more significant than foreign investment in U.S. securities and currency

Indicate whether the statement is true or false

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With respect to wealth in the United States, we presently find that the bottom 90 percent of Americans own approximately how much of the nation's wealth?

A) 10 percent B) 25 percent C) 64 percent D) 84 percent

Economics