The GDP deflator measures how prices change over time
Indicate whether the statement is true or false
TRUE
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One year nominal GDP was $286 billion and the price index was 88. Real GDP that year was ________.
A. $308 billion B. $252 billion C. $325 billion D. $262 billion
The Sherman Antitrust Act was not specific enough to eliminate monopolies in the United States
a. True b. False Indicate whether the statement is true or false
The terms of trade equation is written as
a. index of export prices – index of import prices b. 100 × (index of import prices × index of import prices) c. 100 × (index of import prices + index of export prices) d. 100 × (index of import prices/index of export prices) e. 100 × (index of export prices/index of import prices)
Platform monopolies:
A. increase competitive forces. B. are highly regulated. C. lead to lower product prices. D. create efficiencies in production.