If nominal GDP increased from $4,500 billion in 2010 to $5,000 billion in 2011 and the GDP deflator increased from 100 to 105 over the same time period, what would the 2011 real GDP equal expressed in terms of 2010 dollars?
a. $4,285 billion
b. $4,500 billion
c. $4,725 billion
d. $4,762 billion
d
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A decrease in stock prices alters the consumption function by:
A. decreasing disposable income. B. increasing autonomous consumption. C. decreasing autonomous consumption. D. increasing disposable income.
In the Keynesian model, interest rates are determined by
A) aggregate demand and aggregate supply. B) saving and investment. C) the demand for and supply of money. D) the velocity of money.
The price elasticity of demand for a rental home in Luxury Resorts in the summer is 1.25 and is 2.25 in the spring. If Luxury Resorts faces a constant marginal cost of $500 per home rental, what is the profit-maximizing peak-load price to charge in the summer?
A) $1,250 B) $5,000 C) $900 D) $2,500
Which group has the highest poverty rate from among these groups?
A. Children under 18 B. Persons over 65 C. White males D. Members of working class families