A country's real GDP rose from $500 to $530 while its nominal GDP rose from $600 to $700 . What was this country's inflation rate?
a. 16.7%.
b. 10.0%.
c. 15.0%.
d. -9.1%.
b
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How were macroeconomic balances different in the period from 2000 to 2007 from past financial crises?
What will be an ideal response?
Which of the following is not a common rationale for government involvement in education?
a. Public education produces a positive inframarginal externality. b. Public provisions of education makes students into better citizens. c. Public financing of education is necessary on equity grounds. d. all of the above
The impact of a $200 increase in income on quantity demanded would be called an income effect
a. True b. False
When the economy's actual price level exceeds the expected price level in the short run: a. the real wages of workers decline
b. the nominal wages of workers increase. c. firms decrease output below the potential level. d. the economy produces the natural rate of output. e. cyclical unemployment in the economy falls to zero.