Real GDP is $1,400 billion and nominal GDP is $1,800. The GDP price index equals
A) 100.0. B) 2.86. C) 77.0. D) 222.2. E) 128.6.
E
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If a bank has $6 billion in reserves and loans $2 billion to another bank, then the total quantity of reserves demanded is:
A) $6 billion. B) $8 billion. C) $2 billion. D) $4 billion.
Refer to above Table 2-2. What are the constant-dollar expenditures in years 1 and 2 at fixed year 1 prices?
A) $5.00, $7.80 B) $14.00, $14.60 C) $18.00, $18.60 D) $9.00, $10.80
A market structure in which only one firm survives because of economies of scale: a. is called a structural monopoly
b. is called a patented monopoly. c. is called a natural monopoly. d. is called a government monopoly.
Which of the following shows a contrast between Economist A, who is concerned with individual liberty, and Economist B, who is concerned with an unfair distribution of power?
a. Economist A wants more government programs; Economist B wants to hire fewer government employees. b. Economist A wants more government programs; Economist B want less government involvement. c. Economist A wants to hire more government employees; Economist B want to lower taxes. d. Economist A wants less government involvement; Economist B wants more government programs.