Real GDP is nominal GDP adjusted for
a. price changes
b. intermediate goods
c. business cycle fluctuations
d. international trade
e. depreciation
A
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Based on the figure above, when the market is unregulated and is in equilibrium, the deadweight loss is
A) $86.25 million per year. B) $56.25 million per year. C) $48.75 million per year. D) $37.50 million per year. E) zero.
If import restrictions prohibit foreigners from selling various goods and services in the U.S. market,
What will be an ideal response?
Which of the following two statements is true of the graph shown below?Statement 1: The graph leads to a supply of labor curve that is positively sloped throughout.Statement 2: The opportunity cost of leisure is lower at point A than at point D. 
A. Statement 1 B. Statement 2 C. Both statements are true D. None of the statements is true
Which of the following policies would be most effective to control inflation?
A) An increase in government spending to shift aggregate demand to the right. B) A decrease in government spending to shift aggregate demand to the left. C) An increase in taxes to shift aggregate supply to the left. D) None of the above would reduce inflation.