If Gross Domestic Product (GDP) and other national income accounts are expressed in nominal values, then they are
A. measured in constant prices instead of actual market prices.
B. measured in real values.
C. readily comparable to Gross Domestic Product (GDP) figures for other years.
D. measured in market prices at which goods actually sold.
Answer: D
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In the above figure, the optimal level of pollution cleanup is
A) Q1.
B) Q2.
C) Q3.
D) Q4.
Aggregate demand (price) & GDP
What will be an ideal response?
Why does the Federal Reserve alter monetary policy?
(A) To provide services to member banks. (B) To enable banks to clear checks. (C) To lessen the effect of natural business cycles. (D) To regulate the banking industry.
Which of the following is not a potential result of a price floor?
A) excess supply B) price greater than free-market equilibrium price C) Lower quality inputs are used, which increases marginal cost. D) all of the above