Which case represents the largest increase in the real national debt?
a. The price level increases by 500 percent and nominal debt increases by 500 percent.
b. The price level increases by 200 percent and nominal debt increases by 600 percent.
c. The price level decreases by 50 percent and nominal debt increases by 300 percent.
d. The price level increases by 400 percent and nominal debt increases by 200 percent.
e. The price level decreases by 90 percent and nominal debt increases by 200 percent.
C
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If C = $400, I = $100, G = $50, NX = $30, and NFP = $5, how much is GDP?
A) $580 B) $575 C) $585 D) $550
Union membership peaked in the
A. mid-1930s. B. late-1950s. C. late-1970s. D. early 1980s.
Quarterly GDP:
A. is adjusted for predictable, seasonal variation to predict what GDP would be if the economy continues at its current pace. B. is always shown as a seasonally adjusted estimate for an annual rate. C. takes account of unpredictable seasonal patterns in order to guess at annual GDP. D. is the only representation of GDP that economists view as credible.
The real-income and the substitution effects reinforce each other by
A. decreasing the consumption of good A when the price of good A increases. B. increasing the consumption of good B when the price of A falls. C. decreasing the consumption of good A when the price of good B falls. D. increasing the consumption of both goods A and B when income increases.