If a coin is flipped two times, what is the probability of a tail appearing on both tosses?
A) 0.25
B) 0.75
C) 1.0
D) 0.50
A) 0.25
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Which of the following goods would have the most inelastic demand?
A) bread B) big screen TVs C) luxury cars D) ski vacations
The GDP deflator is
A) an index that utilizes a consumer's market basket of goods in calculating the inflation rate. B) the most general indicator of inflation since it measures changes in the prices of all goods and services in the economy. C) an index used to calculate inflation at the wholesale level. D) the least used index because it is so costly to calculate.
The production function shows the relationship between the price and the quantity of a good
a. True b. False Indicate whether the statement is true or false
Which of the following will most likely increase aggregate demand?
a. a decrease in stock market prices b. a lower real interest rate c. a decrease in the expected inflation rate d. a decrease in real GDP