Refer to Table 8-18. What is nominal GDP in 2016 when 2011 is the base year?
A) $28,885 B) $11,790 C) $11,200 D) $10,275
B
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Consider a small open economy with desired national saving of Sd = 200 + 10,000rw and desired investment of Id = 1000 - 5000rw. If rw = 0.05, then net exports equal
A) 100. B) 50. C) -50. D) -100.
The guiding principle for the conduct of monetary policy that held that as long as loans were being made for "productive" purposes, then providing reserves to the banking system to make these loans would not be inflationary became known as the
A) free reserves doctrine. B) Benjamin Strong doctrine. C) efficient liquidity doctrine. D) real bills doctrine.
Explain how continuing technical progress may cause the price of scarce, exhaustible resources to fall over time
What will be an ideal response?
In a perfectly competitive market, the long-run industry supply curve is perfectly elastic at the minimum point of the ATC curve
a. True b. False Indicate whether the statement is true or false