The nominal value of GDP is:
a. expressed in monetary values adjusted for inflation
b. expressed in monetary values that are not adjusted for inflation.
c. expressed in numeric values that does not correlate to a monetary term.
d. expressed as a ratio between the value of consumption expenditure and the value of investment expenditure.
b
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Purchasing-power parity says that the nominal exchange rate must equal the real exchange rate
a. True b. False Indicate whether the statement is true or false
An increase in taxes would be an expansionary fiscal policy.
Answer the following statement true (T) or false (F)
Which of the following would be expected to shift the consumption function down?
A. increases in real disposable income B. expectations of more business profits ahead C. increases in wealth D. decreases in the nation's population
From which of the following is it least difficult to exclude free riders?
A) A library book B) Landscaping on the edges of urban expressways C) Police protection D) Fireworks displays