Retirees have their benefits adjusted annually by the ________ to compensate them for inflation.
A. wage inflation rate
B. price inflation rate as measured by the GDP deflator
C. price inflation rate as measured by the PPI
D. price inflation rate as measured by the elderly person's index
Answer: A
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If a country had a real GDP of $500 million, and the GDP Ddeflator was 90, what is the nominal GDP?
a. $440 million b. $540 million c. $450 million d. $550 billion
An appreciation in the value of the dollar would
a. make U.S. goods less expensive to foreigners. b. encourage U.S. consumers to buy more foreign goods. c. increase the number of dollars that could be purchased with a Mexican peso. d. discourage U.S. consumers from traveling abroad.
Other things equal, when Europeans want to buy more grains from the United States:
a. U.S. imports will increase.
b. European exports will increase at every level of domestic income.
c. U.S. exports will increase at every level of domestic income.
d. the U.S. balance of payments will show a deficit.
e. U.S. consumption spending will fall.
In terms of capabilities, education can be seen as:
A. contributing to better family planning. B. a factor that reduces income inequality in countries. C. a feature of more democratic regimes. D. something that requires a lot of funding, but produces very little return.