Suppose in 2000 . nominal GDP in Russia was 1000 rubles and it increased to 2000 rubles in 2001 . If we know that the base year is 2000 and the GDP deflator in 2001 is 100, then of the 1000 ruble increase in nominal GDP, ______ is an increase in real GDP
a. none or 0 rubles
b. all, or 1000 rubles
c. 500 rubles
d. 2000 rubles
e. 100 rubles
B
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There is only one supermarket in Beverly Hills, California because
A) supermarkets can't compete effectively against residents in buying land. B) supermarket owners are paying attention to sunk costs in their location decisions. C) the demand for food is highly elastic in wealthy neighborhoods. D) the demand for food is highly inelastic in wealthy neighborhoods. E) wealthy people rarely do their own grocery shopping.
What is the law of diminishing returns? Why does marginal product eventually diminish?
What will be an ideal response?
Collateral is ________ the lender receives if the borrower does not pay back the loan
A) a liability B) an asset C) a present D) an offering
Public saving equals:
a. TR - G - T b. Y - C - T + TR c. Y + C + T + TR d. T - G - TR