Economic growth is measured by the percentage change in:
A. potential nominal GDP.
B. structural unemployment.
C. inflation
D. potential real GDP (LRAS).
Answer: D
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The way in which growth occurs affects the pattern of trade of a country
Indicate whether the statement is true or false
Which of the following changes shifts the AD curve down and to the left?
A) A temporary increase in government purchases B) A rise in the nominal money supply C) A decrease in corporate taxes D) A decrease in consumer confidence
GDP can be calculated by the value-added approach, which
a. is useful in avoiding double counting. b. includes only the value-added portion from the sale of goods and services. c. includes the revenue a firm receives from selling a product minus the amount paid for goods purchased from other firms. d. All of the above correct.
Currency (paper money plus coins) constitutes about:
A. 24 percent of the U.S. M1 money supply. B. 45 percent of the U.S. M1 money supply. C. 51 percent of the U.S. M1 money supply. D. 55 percent of the U.S. M1 money supply.