The ratio of nominal GDP to real GDP multiplied by 100 is the
A. NNP.
B. national income.
C. GDP deflator.
D. same as depreciation.
Answer: C
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An increase in the marginal factor cost of labor will
A) lead to an increase in the quantity demanded of labor. B) induce a firm to hire fewer workers. C) lead to an increase in the value of an additional worker. D) cause the value of the marginal product of labor to increase.
In the short run, fiscal and monetary policy cause unemployment and inflation to move in opposite directions because
a. the Fed and Congress rarely agree on policy. b. one controls aggregate demand, the other controls aggregate supply. c. both policies control only aggregate supply. d. both policies control only aggregate demand.
"Market prices give no reason to believe that natural resources are a limit to economic growth.". Explain this statement
Explain what decisions and calculations a firm must make when it is considering the purchase of new capital (i.e., making an investment decision)
What will be an ideal response?