If the MU/P for video rentals is 5 and the MU/P for movie theaters is 8, this person should go to movie theaters more often and rent fewer videos
Indicate whether the statement is true or false
T
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Based on the figure above, in which quarter or quarters did an expansion occur?
A) in 2014, 2nd quarter B) in 2013, 2nd quarter C) between 2013, 2nd quarter to 2014, 2nd quarter D) between 2012, 2nd quarter to 2013, 2nd quarter and also between 2014, 2nd quarter to the end of the figure E) There are no expansions illustrated in the figure.
Which component of consumption spending is the greatest in a typical economy?
A) services B) nondurable goods C) durable goods D) new housing
The nominal interest rate minus the inflation rate equals the real interest rate
Indicate whether the statement is true or false
To calculate the time required for real GDP to double, we _____
a. divide the annual growth rate by 72 b. divide 72 by nominal GDP c. divide real output by 72 d. divide 72 by the annual growth rate e. multiply real GDP by 72