The advantage of using real GDP over nominal GDP is that:
A) it can be compared over time.
B) it takes into account the distribution of income.
C) it takes into account changes in ruling political party.
D) it is easier to calculate.
A
You might also like to view...
The supply of U.S. dollars on foreign exchange markets is
A) determined directly by open market operations at the Federal Reserve Bank. B) derived from the demand for U.S. products by foreigners. C) derived from the supply of U.S. goods. D) derived from the demand by United States for imported goods and services.
An example of a Pigovian tax would be a tax on:
A. income. B. cigarettes. C. corporate capital gains. D. All of these are examples.
Assume that the economy is currently in short-run equilibrium, then the dollar appreciates in the foreign exchange market. Describe the correct sequence of events that happen as the economy adjusts to a new short-run equilibrium (be sure to state what the impact would be on the price level and Real GDP)
The short-run aggregate supply curve is upward sloping in part because increases in aggregate demand cause some firms to increase their price markups.
Answer the following statement true (T) or false (F)