Use the following information to answer this question. If nominal GDP rises from $100 trillion to $120 trillion, while the GDP deflator rises from 2.0 to 2.2, the percentage change in real GDP is approximately equal to
A) -10%.
B) 10%.
C) 20%.
D) 9.1%.
E) 0%.
D
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If the U.S. government were to note that because drug companies can sell their drugs in Canada and make a profit at those regulated prices and impose a similar set of regulations in the U.S., this would have the effect of
A. raising the price of drugs in the U.S. B. eliminating all profit for drug companies. C. decreasing the motivation for U.S. drug companies to innovate in the future. D. increasing the motivation for Canadian drug companies to innovate in the future.
A shareholder in a corporation
A) may not sell his or her share of ownership in the business without the business dissolving. B) can earn interest, but not dividends, from the profits of the business. C) is a part owner of the business. D) is personally liable for the debts of the corporation.
Refer to the table. Between years 1 and 2, real GDP grew by __________ percent in Alta.
A. 3
B. 4
C. 5
D. 10
In the long run,
A. all of the firm’s input quantities are variable. B. the firm can vary the quantities of some but not all inputs. C. managers become less efficient. D. the total cost of producing any given level of output is greater than or equal to the short-run total cost of producing that level of output.