GDP is a measure of
A. production.
B. the amount of money available.
C. inflation.
D. innovation.
Answer: A
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Suppose the government increases its expenditures by $100 billion and simultaneously reduces the money supply by $100 billion. We definitely know that
A) equilibrium GDP will fall. B) equilibrium GDP will rise. C) the interest rate will rise. D) the interest rate will fall.
Discuss the reserve requirements method of conducting monetary policy, including a description of this method, the types of adjustments banks are likely to be required to be made, and the effects on the economy that are likely to result
Suppose that twenty-five years ago a country had nominal GDP of $1,000, a GDP deflator of 200, and a population of 100 . Today it has nominal GDP of $3,000, a GDP deflator of 400, and population of 150 . What happened to the real GDP per person?
a. It more than doubled. b. It increased, but it less than doubled. c. It was unchanged. d. It decreased.
______________ accounts for interrelationships among markets.
Fill in the blank(s) with the appropriate word(s).