QN=70 (17785) In the economy of Wrexington in 2008, nominal GDP was $20 billion and the GDP deflator ratio was 500. What was Wrexington's real GDP in 2008?
a. $2.5 million
b. $10 million
c. $40 million
d. $100 million
c. $40 million
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Options on futures contracts are referred to as
A) stock options. B) futures options. C) American options. D) individual options.
The historical data on velocity shows that velocity for
a. M1 has fallen since 1929 and has become more stable since 1981. b. M1 has risen since 1949 and has become more volatile since 1981. c. both M1 and M2 have increased since 1949 but have become more stable since 1979. d. both M1 and M2 have declined since 1949.
Evidence from research studies by economists
a. shows that increased unemployment benefits decrease the job search efforts of the unemployed. b. shows that increased unemployment benefits have virtually no effect on the job search efforts of the unemployed. c. shows that increased unemployment benefits increase the job search efforts of the unemployed. d. is conflicting on what increased unemployment benefits do to the job search efforts of the unemployed.
Slope is the best measure of responsiveness of the quantity demanded to a price change.
Answer the following statement true (T) or false (F)