Refer to Table 2.3. Assume that 2010 is the base year. Real GDP in 2013 is
A) $688.00.
B) $794.00.
C) $812.00.
D) $961.00.
C
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If you knew that two countries had the same level of real GDP per person, what additional piece of information would help you determine in which country people had a better standard of living?
A. The total physical volume of output for each country B. The average level of prices in each country C. The average number of hours worked per week in each country D. The population of each country
Given the reserve-holding ratio e and the fraction of deposits held as cash c, the deposit multiplier becomes
A) e - c. B) 1/(e - c). C) e/c. D) ec. E) 1/(e + c).
What are three reasons that banks charge interest on loans?
What will be an ideal response?
If the government undertakes expansionary fiscal policy, it:
A. should force people to change their spending patterns. B. expects aggregate demand to decrease. C. expects aggregate demand to increase. D. could increase income taxes.