If hot dogs cost $2 this year and $3 next year, then 100 hotdogs will contribute
a. $200 to this year's nominal GDP and $166 to next year's nominal GDP.
b. $200 to this year's real GDP and $300 to next year's real GDP.
c. the same dollar amount to each year's nominal GDP because hotdogs are intermediate goods.
d. $200 to this year's nominal GDP and $300 to next year's nominal GDP.
d
You might also like to view...
If a country has an absolute advantage in the production of every good, it cannot benefit from trade with other countries
a. True b. False
The less liquid markets are the:
A. less willing people are to save, and the higher the interest rates. B. more willing people are to save and the higher the interest rates. C. less willing people are to save, and the lower the interest rates. D. more willing people are to save, and the lower the interest rates.
An increase in quantity supplied can be caused by a(n)
a. decrease in quantity demanded b. rise in resource input prices c. increase in price d. decrease in the number of firms in the market e. tax levied on the producer
To decrease output the government could
A. increase government spending and encourage immigration. B. decrease government spending and discourage immigration. C. increase government spending and discourage technological advancement. D. decrease government spending and encourage technological advancement.