The formula for nominal GDP is
a. Nominal GDP = Real GDP + GDP Deflator.
b. Nominal GDP = Real GDP – GDP Deflator.
c. Nominal GDP = GDP Deflator / Real GDP.
d. Nominal GDP = GDP Deflator x Real GDP.
d. Nominal GDP = GDP Deflator x Real GDP.
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If a country adopts another country's currency, it is called
A) dollarization. B) a crawling peg. C) a dirty float. D) monetary order.
An increase in the interest rate tends to increase the demand for loanable funds
a. True b. False
Which of the following would increase the consumption component of U.S. GDP?
A. You purchase a bottle of California wine. B. A restaurant in Denver purchases a bottle of California wine to include on its wine list. C. The U.S. government buys a bottle of California wine to serve at a state dinner in the White House. D. A person in Paris purchases a bottle of California wine.
In the long run, monetary growth
A. can change the unemployment rate while holding the inflation rate constant. B. can promote economic growth. C. cannot affect the factors that determine the economy's unemployment rate. D. can change the unemployment rate only at the cost of increased inflation.