A measure of the average price level for GDP is called the:
A. aggregate price level.
B. national price level.
C. economy price level.
D. total price level.
A. aggregate price level.
You might also like to view...
The countries that have made the least use of securities markets are ________ and ________; in these two countries finance from financial intermediaries has been almost ten times greater than that from securities markets
A) Germany; Japan B) Germany; Great Britain C) Great Britain; Canada D) Canada; Japan
The amount that a seller is paid for a good minus the seller’s actual cost is called:
a. producer surplus. b. consumer surplus. c. total surplus. d. demand surplus.
Consider the following combinations of guns and butter that can be produced: 0 guns, 20,000 units of butter; 5,000 guns, 15,000 units of butter; 10,000 guns, 10,000 units of butter; 15,000 guns, 5,000 units of butter; 20,000 guns, 0 units of butter. The PPF between guns and butter is
A) a downward-sloping bowed-out curve. B) a downward-sloping straight line. C) an upward-sloping straight line. D) It is impossible to answer this question without knowing which good would be plotted on the vertical axis.
People acting in their own self-interest is the basis of the:
A. principle of supply and demand. B. principle of voluntary exchange. C. real-nominal principle. D. principle of scarcity.