Refer to Table 2.3. Nominal GDP in 2013 is
A) $568.00.
B) $794.00.
C) $812.00.
D) $961.00.
D
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If the rate of inflation is zero, prices are expected to remain stable, and the nominal rate of interest is 5 percent, then the
A) real rate of interest is equal to the nominal rate. B) real rate of interest is less than the nominal rate. C) nominal rate is greater than the real rate of interest. D) investment demand schedule will shift upward.
When both exports and imports are considered, the major advantage of international trade is that it allows us to
a. seclude ourselves from foreign products. b. consume a larger, more diverse quantity of goods and services at lower prices than would otherwise prevail. c. benefit at the expense of less-developed nations d. maintain jobs for workers who would otherwise have little to do.
From the Patterns of Sustainable Specialization and Trade (PSST) perspective, expansionary monetary and fiscal policies that are designed to boost aggregate demand
A) will not work if the money market is in disequilibrium, and may end up making the economy worse. B) will not work unless alternative sources of energy are employed. C) may not work if buyers and sellers are out of sync with one another, and may end up making the economy worse. D) are always successful in pushing the economy to full-employment.
The graph above indicates equilibrium E for a close economy without government spending. If the addition of government spending results in equilibrium F, which of the following is true?
A) Government spending is $300 and the multiplier is 5 B) Government spending is $100 and the multiplier is 5 C) Government spending is $100 and the consumption increase by $500 D) Government spending and GDP increase by $500 each E) Consumption and GDP increase by $500 each