The US had a nominal GDP of 10.3 trillion dollars in 2000. If the US great at an average rate of 3.0 % per year then its compounded GDP at the end of 2015 would have been:
A. 14.7 Tr.
B. 16.0 Tr.
C. 16.3 Tr.
D. 15.6 Tr.
B. 16.0 Tr.
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Cost-push inflation is to ________ as demand-pull inflation is to ________
A) impatience; inaccuracy B) entering; exiting C) activism; nonactivism D) fiscal; monetary E) none of the above
The city of London imposes congestion fees on cars and trucks that drive in central London. The charge is higher Monday through Friday than on weekends. This example of
A. peak pricing. B. positive externalities. C. profit maximizing. D. British socialism.
According to the endowment effect, people are unwilling to sell a good they already own in which of the following situations?
a. if they are offered a price greater than the price they would pay if they did not already own the good b. if they are offered a price lower than the price they would have to pay to replace the good c. if they can't replace the good d. if the good was a gift that had great sentimental value
What is meant by imperfect information?
What will be an ideal response?