Nominal GDP can change
A) only if prices change.
B) only if the quantities of goods and services change.
C) only if prices increase.
D) if either prices or the quantities of goods and services change.
E) only if prices and the quantities of the goods and services change.
D
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Most of the countries of Africa are considered newly industrializing countries
Indicate whether the statement is true or false
Explain how a mortgage lender may act differently if it intends to resell mortgages in secondary markets instead of holding the mortgages itself
What will be an ideal response?
Suppose a firm acts to minimize the cost of producing 500 units of output and determines this cost to be $25,000. Then, if the firm acts to maximize output for a total cost of $25,000, the maximum output attainable is
A) 500. B) less than 500. C) more than 500. D) unknown.
When marginal analysis is used to determine the optimal quantity of accident avoidance, all of the following are true except which one?
A) The sum of the expected cost of an accident and the cost of avoiding accidents is minimized. B) The expected marginal benefit of accident avoidance exceeds the marginal cost. C) The total cost of the accident is minimized. D) The expected marginal benefit of accident avoidance equals the marginal cost.