Refer to Table 8-21. Consider the following data for a simple economy: Calculate nominal GDP and real GDP for 2016, using 2014 as the base year. Show your work
What will be an ideal response?
Nominal GDP for 2016 equals (250 × $
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Currently, the United States is both a net borrower and a debtor nation
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Studies strongly suggest that advertising strategies are generally much more effective than pricing strategies as a means to increase market share
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The number of people living in urban areas fell after the Civil War and then increased as World War I approached
Indicate whether the statement is true or false
Mary has $10 to spend each week on coffee, Qc and magazines, Qm. The price of a coffee is $1, and the price of a magazine is $2. Mary's budget equation is ________
A) Qm = 10 - Qc B) Qm + Qc = 20 C) $1 × Qc + $2 × Qm = $10 D) Qm = 10 - 2 × Qc