The GDP deflator is the
A) difference between real GDP and nominal GDP multiplied by 100.
B) difference between nominal GDP and real GDP divided by 100.
C) ratio of nominal GDP to real GDP multiplied by 100.
D) ratio of real GDP to nominal GDP multiplied by 100.
C
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Which answer below CORRECTLY describes the relationship between the demand for labor curve and the value of marginal product curve?
A) The curves intersect to determine the equilibrium quantity of labor. B) The value of marginal product curve lies to the right and above the demand for labor curve. C) The curves are the same. D) The value of marginal product curve lies to the left of the demand for labor curve.
If movement along a graph causes the value on the vertical axis to rise by 5 units and the value on the horizontal axis to fall by 10 units, the slope of the function is
a. 5. b. ?.5. c. ?2. d. ?72.
The term "business cycle" refers to ________.
A) the periodic increases and decreases of the economy B) the periodic purchases of goods and services by the government C) the increases and decreases in the rate of inflation D) the periodic growth of the Federal Reserve system E) the periodic increases and decreases in the GDP due to seasonal factors
A political leader suggesting that an economic downturn will be cushioned automatically is referring to the automatic actions resulting from
A. interest rates and tax rates. B. tax policy and spending policy. C. a progressive income tax and a welfare state. D. interest rates and the money supply.