One of the most common uses of GDP is to:
A. track changes in an economy over time.
B. see which country has the fairest distribution of wealth.
C. evaluate different standards of living across countries.
D. measure the amount of money has been made in the economy.
A. track changes in an economy over time.
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In an open economy with flexible exchange rates, monetary policy affects consumption and investment by changing the ________ and affects net exports by changing the ________.
A. growth of domestic real GDP; growth of foreign real GDP B. inflation rate; unemployment rate C. real interest rate; exchange rate D. exchange rate; real interest rate
If the price of gasoline increases significantly, then we'd expect the demand curve for large hybrid and electric cars to
A. not shift, but there will be a movement along that demand curve. B. shift to the right. C. shift to the left. D. become upward-sloping.
If the MPC is 0.9, then an increase in taxes of $100 can be expected to __________ consumption by the amount of __________
A) increase; $90 B) decrease; $90 C) increase; $100 D) decrease; $100
Through 2012, the most serious U.S. trough since the Great Depression was the one that occurred in
a. 1991. b. 2001. c. 1974–1975. d. 2008–2010.