If for a given year nominal GDP is $2000 billion and real GDP is $1500 billion, then the GDP price index is
A) 100. B) 1.33. C) 750. D) 0.75. E) 133.
E
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Which of the following is a way to finance a budget deficit?
A) increased private saving B) decreased domestic investment C) decreased foreign investment D) all of the above
Refer to the following figure. The price of capital is $50 per unit:
The minimum cost of producing 800 units of output is
A. $10,000. B. $8,000. C. $7,500. D. $6,000.
Recall the Application about the demand and price for margarine to answer the following question(s).Recall the Application. Between 2000 and 2009, total U.S. consumption of margarine ________ and the price, in real terms, ________.
A. doubled; doubled B. decreased by roughly half; decreased by roughly half C. decreased by roughly half; stayed roughly the same D. doubled; stayed roughly the same
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4Refer to Figure 2.4. The economy moves from Point E to Point B. This could be explained by
A. a change in society's preferences for hybrid cars versus motorcycles. B. an increase in economic growth. C. an increase in unemployment. D. a reduction in unemployment.