Suppose real GDP was 120 in year 1 and 156 in year 2. The growth rate of real GDP is
A) 5.6 percent. B) 18 percent. C) 30 percent. D) 36 percent.
C
You might also like to view...
If, at the current exchange rate between the dollar and the South African rand of 6.92 rand per dollar, the dollar is "undervalued," how do you expect demand and supply in the foreign exchange markets to respond?
A) The supply of the dollar will fall, while the demand for the rand will rise. B) The demand for the dollar will rise, while the supply of the rand will fall. C) The demand for the dollar will fall, while the supply of the rand will rise. D) The demand for the dollar will rise, while the supply of the rand will rise.
If the Fed is using policy to combat inflation, what is likely to happen in the foreign exchange market and to the foreign exchange value of the dollar?
A) The demand for the dollar will increase and the foreign exchange value of the dollar will rise. B) The demand for the dollar will decrease and the foreign exchange value of the dollar will fall. C) The demand for the dollar will decrease and the foreign exchange value of the dollar will rise. D) The demand for the dollar will increase and the foreign exchange value of the dollar will fall.
If the country of Deficitland is experiencing trade deficits, they are more likely to cut imports of
a. beef b. cocoa c. coffee d. capital goods e. soybeans
Who are likely to earn higher incomes, doctors or nurses, and why?
a. doctors, because their training is more expensive b. doctors, because their job has higher social status c. nurses, because their job is more desirable d. nurses, because their education is more costly e. doctors, because there are more job openings for them