The GDP deflator is equal to
A) nominal GDP divided by real GDP.
B) real GDP divided by nominal GDP, multiplied by 100.
C) real GDP divided by nominal GDP.
D) nominal GDP divided by real GDP, multiplied by 100.
D
You might also like to view...
A positive theory of common law, in which the positions of the courts are predicted based on the assumption that they are attempting to promote efficiency, is proposed by
a. Pigou. b. Coase. c. Posner. d. Epstein.
Compared to IACs, LDCs are often characterized by:
a. lower adult literacy. b. lower per capita energy consumption. c. lower life expectancy. d. All of the answers are correct.
Exhibit 4-10 Supply and demand data for apricots Bushels demandedper month Price perbushel Bushels suppliedper month 50 $5 80 55 4 75 60 3 70 65 2 65 70 1 55 In Exhibit 4-10, assume that the government initially sets a price floor of $4 for apricots, and then removes the $4 price floor. What effect will this price change have?
A. The price of apricots will rise. B. The quantity of apricots demanded will fall. C. The quantity of apricots supplied will decline. D. Quantity supplied will continue to exceed quantity demanded.
The cross price elasticity of demand is measured by the
A. percentage change in the price of one good divided by the percentage change in the demand for another good. B. percentage change in the quantity demanded of one good divided by the percentage change in quantity demanded of another good. C. percentage change in the demand for one good divided by the percentage change in price of another good. D. percentage change in the price of one good divided by the percentage change in price of another good.