If C = $250, I = $50, G = $60, NX = -$20, and NFP = $5, how much is GNP?
A) $365
B) $335
C) $340
D) $345
D
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In the United States during the late 1970s, the nominal interest rates were quite high, but the real interest rates were negative. From the Fisher equation, we can conclude that expected inflation in the United States during this period was
A) irrelevant. B) low. C) negative. D) high.
The distinguishing characteristics of different market structures include
a. how frequently the product is purchased b. the extent of capitalization in the industry c. the presence or absence of technological innovation d. the presence or absence of collusion e. both the number of sellers and the number of buyers
If the U.S. dollar depreciates in value relative to foreign currencies, then this will:
A. decrease aggregate demand. B. decrease aggregate supply. C. cause a movement along the aggregate demand curve. D. increase aggregate supply.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point D to Point B, the opportunity cost of hybrid cars, measured in terms of motorcycles,
A. initially increases, then decreases. B. increases. C. remains constant. D. decreases.