If Q represents real GDP and P is the price level, then P × Q equals ______.
a. real NI
b. real NNP
c. nominal NNP
d. nominal GDP
d. nominal GDP
You might also like to view...
The Stackelberg outcome differs from the Cournot equilibrium because:
a. the games involve different strategic variables. b. the first mover can commit to an output off its best-response function. c. quantity supplied is not equal to quantity demanded at the prevailing price. d. it's not a perfectly competitive outcome.
In 2008, $1 Canadian cost 0.56 British pounds and in 2010, it cost 0.63 British pounds. Therefore, 1 British pound was worth _____ Canadian in 2008 and _____ Canadian in 2010
a. $1.79; $1.59 b. $1.72; $1.51 c. $1.87; $1.65 d. $1.97; $1.75
The regulation of natural monopolies is common in which of the following industries?
A. Electricity B. Tobacco C. Oil D. Alcohol
A game in which all the players are better off at the end of the game is a
A. tit-for-tat game. B. noncooperative game. C. positive-sum game. D. dominant strategy game.