Refer to Table 19-12. Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The base year used in calculating real GDP is
A) 2013. B) 2014. C) 2015. D) 2016.
B
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The amount earned by the tertiary laborer is determined by labor productivity in the primary and secondary sectors of the U.S. economy
Indicate whether the statement is true or false
If the supply curve for a product is vertical, then the elasticity of supply is: a. equal to zero
b. equal to one. c. greater than one but less than infinity. d. equal to infinity.
A man may be preferred to a woman by an employer who will make a substantial investment in the training of the employee because
A. most employers are sexist and think that women belong in the home caring for children. B. as a group women tend to have a weaker attachment to the labor force than men. C. employers have observed that women are less productive than men on most jobs. D. employers are afraid women will disrupt the workplace by distracting the male employees.
If you advertise and your rival advertises, you each will earn $4 million in profits. If neither of you advertises, you will each earn $10 million in profits. However, if one of you advertises and the other does not, the firm that advertises will earn $1 million and the non-advertising firm will earn $5 million. Suppose this game is repeated for a finite number of times, but the players do not know the exact date at which the game will end. The players can earn profits of $10 each period as a Nash equilibrium to a repeated play of the game if the probability the game terminates at the end of any period is:
A. between 0 and 1. B. close to 1. C. close to 0. D. All of the statements associated with this question are correct.