If real GDP increased by 2% and nominal GDP increased by 4%, then output:
a. increased and the price level increased.
b. increased and the price level decreased.
c. decreased and the price level increased.
d. decreased and the price level decreased.
a
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Refer to the table above. At what price does the market for notebooks clear?
A) $3 B) $4 C) $2 D) $5
The above figure depicts the Edgeworth box for two individuals, Al and Bruce. If the endowment is at point a, and Al has no ability to bargain, the final allocation will be at point
A) a. B) b. C) c. D) d.
If View Your World, a high-end window manufacturer, has contracted with a supplier to produce their glass, this is an example of ________.
A) outsourcing B) forward integration C) backward integration D) a market transaction
Fiscal policy time lags tend to be
A) constant, always thirteen months long. B) variable, between one and three years. C) variable, between one and three weeks. D) variable, between one and three months.