Real GDP is nominal GDP divided by the Consumer Price Index
Indicate whether the statement is true or false
F
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Based on the answer of question 4, the payoffs for both stores will be
a. Megastore $95 and Superstore $80 b. Megastore $305 and Superstore $55 c. Megastore $65 and Superstore $285 d. Megastore $165 and Superstore $115
As shown in the graph, when a government imposes a quota, consumer surplus will:
This graph demonstrates the domestic demand and supply for a good, as well as a quota and the world price
for that good.
A. decrease by EFGH.
B. increase by EFGH.
C. decrease by FG only.
D. increase to ABCD.
To finance a federal budget deficit, the U.S. Treasury borrows by selling:
a. Treasury bills. b. Treasury notes. c. Treasury bonds. d. All of these.
If the price of gasoline rose 50% during a period in which the general price level rose 100%, economic theory would predict Select one:
A) a decline in the quantity of gasoline demanded.
B) an increase in the quantity of gasoline demanded.
C) a decrease in the demand for gasoline.
D) an increase in the supply of gasoline.
E) less driving by motorists.