If a country had a nominal GDP of $753 million, and the GDP deflator was 110, what is the real GDP?
a. $685 million
b. $828 million
c. $836 million
d. $863 million
a. $685 million
You might also like to view...
The above table shows the distribution of income and wealth in Miseria. What percent of income is earned by the richest twenty percent?
A) 5 percent B) 20 percent C) 45 percent D) 55 percent
In the used car market, adverse selection can be limited by
A) offering warranties. B) establishing loan limits. C) requiring high deductibles. D) requiring low deductibles.
Countries tend to be classified as more or less developed based on
a. the literacy rate. b. the poverty rate. c. the level of income per capita. d. the types of goods they produce.
If a perfectly competitive firm charges a price that is equal to its average total cost:
A. the firm is earning an economic profit equal to zero. B. the firm is earning an economic profit greater than zero. C. the firm is earning an economic profit less than zero. D. It is not possible to determine anything about the firm's profits.