To calculate nominal GDP, you:
a. Multiply the quantity of everything consumed by the price of everything consumed, and sum the results.
b. Multiply the exchange rate by the price of each good and service produced. Then sum them and divide by the domestic price index.
c. Add the price of everything consumed to the quantity of everything consumed and sum the results.
d. Add the quantities of everything produced to the average national price level and then multiply times one plus the inflation rate [i.e., (1 + inflation rate)].
e. Multiply the quantity of everything produced by the price of everything produced, and sum the results.
.E
You might also like to view...
The ________ curve is vertical
A) long-run aggregate demand B) short-run aggregate demand C) long-run aggregate supply D) short-run aggregate supply
If ABC Printing produces 100 calendars, and the MR of the 100th is $5 and the MC is $3, then the firm is
a. maximizing profit b. producing too many calendars c. making a $200 profit d. making a $200 loss e. producing too few calendars
Independent grocery stores are best-advised to
A. provide a level of service, community involvement, and types of goods Walmart does not. B. hire less-qualified people to keep costs down. C. sell exactly the same goods Walmart does. D. "out Walmart" Walmart by lowering prices.
Refer to the graph above. Which of the following would shift the investment demand curve from ID 2 to ID 3?
A more rapid rate of technological progress Greater inventories of capital goods Lower expected rates of return on investment in capital goods Higher business taxes on capital goods