An increase in supply will cause equilibrium price to __________ and equilibrium quantity to __________
a. increase; increase
b. increase; decrease
c. decrease; increase
d. decrease; decrease
e. remain constant; increase
C
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Which of the following statement is correct?
A) If nominal GDP does not change, then real GDP cannot change. B) If nominal GDP decreases, then real GDP must increase. C) Nominal and real GDP can change either in the same direction or the opposite direction. D) If real GDP decreases, then nominal GDP must decrease. E) If nominal GDP increases, then real GDP must increase.
Clifford lives by the motto "Eat drink and be merry today, for tomorrow doesn't matter
" If today's consumption is represented by "x" and tomorrow's consumption is represented by "y", then which of the following best represents Clifford's utility function? A) U = x - y B) U = x/y C) U = x D) U = y
Which of the following is included in M1?
a. savings accounts b. money market deposit accounts c. money market mutual funds d. certificates of deposit e. None of the above are included.
Exhibit 5-6Use the table below to answer the following question(s). Nominal GDP GDP Year(billions) deflator Year 1 600 100.0 Year 21,000 133.3 Refer to Exhibit 5-6. Measured in terms of Year 1 prices, real GDP in Year 2 was:
A. 600. B. 750. C. 900. D. 1,333.