Refer to Table 8-4. Consider the data above (in billions of dollars) for an economy: Gross domestic product (in billions of dollars) for this economy equals
A) $2,200. B) $2,100. C) $1,600. D) $1,400.
C
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If the real interest rate is 8 percent and the inflation rate is 2.5 percent, then the nominal interest rate is
A) 8 percent. B) 10.5 percent. C) 3.2 percent. D) 2.5 percent. E) 5.5 percent.
Charter schools generally receive more funding than traditional public schools
a. True b. False
Monetary policy has medium-run effects on which of the following?
A) the level of output but not its composition B) both the level and composition of output C) the nominal interest rate D) the real interest rate E) none of the above
Which of the following characterizes the difference between oligopoly and monopolistic competition?
A. Monopolistically competitive firms experience zero long-run economic profit; oligopolists may experience positive long-run economic profit. B. Oligopolists are independent of each other; monopolistically competitive firms are interdependent. C. Monopolistically competitive firms face horizontal demand curves; oligopolists face downward-sloping demand curves. D. There are many oligopolists but only a few monopolistically competitive firms.