One year nominal GDP was $286 billion and the price index was 88. Real GDP that year was ________.
A. $308 billion
B. $252 billion
C. $325 billion
D. $262 billion
Answer: C
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The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
You produce stereo components for sale in two markets, foreign and domestic, and the two groups of consumers cannot trade with one another. If your firm practices third-degree price discrimination to maximize profits, the marginal revenue
A) in the foreign market will equal the marginal cost. B) in the domestic market will equal the marginal cost. C) in the domestic market will equal the marginal revenue in the domestic market. D) all of the above E) none of the above
In general, stocks are _________ risky than bonds, and have a _________ rate of return.
A. more; higher B. more; lower C. less; higher D. less; lower
Payday lending stores near military bases in the United States have mostly closed down since 2007 because of
A. A large increase in salaries paid to the military personnel. B. A reduced demand because of the Great Recession. C. Congress passed a law restricting interest rates to 36 percent from military personnel and their families. D. Congress has outlawed payday lending around our military bases.