If nominal GDP for 2009 is $6400 billion and real GDP for 2010 is $6720 billion (in 2009 dollars), then the growth rate of real GDP is
A) 0%.
B) 0.5%.
C) 5%.
D) 50%.
C
Economics
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If textbook prices rise by 5% this year, and textbook purchases fall by 5% this year, then the price elasticity of demand is:
A) .05. B) .10. C) .55. D) .95. E) 1.0.
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When the government passes a law making a particular good illegal, does it matter for the black market price and quantity if the penalties for breaking the law are imposed on the buyers or on the sellers?
What will be an ideal response?
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The banking system has just experienced an increase in deposits of $50,000. The currency drain ratio is 20 percent and the desired reserve ratio is 10 percent. What does the money multiplier equal?
A) 4.00 B) 3.33 C) 0.25 D) 10.00
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Do donor countries gain anything from their aid?
What will be an ideal response?
Economics