Based on the information in Scenario 1, nominal GDP grew by about ________ percent from 2015 to 2016
A) 23 B) 31 C) 62 D) 162
C
You might also like to view...
In the 1970s, a period of a high rate of inflation, a news magazine article listed people who were losing from inflation because their real purchasing power was falling. Those who lost the most were university professors
Which of the following explains this? A) Their wage rates did not increase as much as the CPI. B) The marginal benefit of their work was falling. C) The professors' market basket was different than the market basket used to calculate the CPI. D) Their wage rates increased more rapidly than the CPI. E) The professors suffered from the CPI bias.
All games have which features?
A) prices, rules, and payoffs B) rules, markets, and prices C) rules, strategies, and payoffs D) rules, strategies, and costs E) equilibrium, prices, and quantities
In the United States, the Federal Deposit Insurance Corporation (FDIC) usually insures the value of deposits up to
A) $50,000. B) $100,000. C) $500,000. D) $1,000,000.
When a minimum-wage law forces the wage to remain above the level that balances supply and demand, the result is a surplus of labor
a. True b. False Indicate whether the statement is true or false