If the price of inputs rises and foreign income rises:
a. Price index rises, and real GDP rises.
b. Price index rises, and real GDP falls.
c. Price index rises, and the change in real GDP is uncertain.
d. Price index falls, and real GDP rises.
e. Price index falls, and real GDP falls.
.C
You might also like to view...
The largest source of the federal tax revenue is ________
A) individual income taxes B) corporate income taxes C) excise taxes D) payroll taxes
When the Fed buys $100 million of securities from a commercial bank, the
A) monetary base increases. B) money supply decreases. C) bank's reserves decrease. D) required reserve ratio decreases. E) bank is risking its depositors' money.
Diminishing marginal utility means that
a. as you consume more of a good, other things constant, the total satisfaction you obtain from consuming this good tends to fall b. as you hire more labor, other things constant, the total amount produced begins to fall c. as you hire more labor, other things constant, the marginal product begins to fall d. as you consume more of a good, other things constant, the additional satisfaction you obtain from each additional unit of the good tends to fall e. as you consume more of a good, other things constant, the extra satisfaction you obtain from each extra good becomes negative
The long-run supply curve for a competitive constant-cost industry is:
a. horizontal. b. vertical. c. upward-sloping. d. downward-sloping.