During 2014, the country of Economia had a real GDP of $115 billion and the population was 0.9 billion. In 2013, real GDP was 105 billion and the population was 0.85 billion. In 2013, real GDP per person was
A) $128.
B) $124.
C) $135.
D) $117.
B
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What will be an ideal response?
If the price level increases, the AE curve shifts
A) upward and the AD curve shifts leftward. B) upward and there is a movement along the AD curve. C) upward and the AD curve shifts rightward. D) downward and there is a movement along the AD curve. E) downward and the AD curve shifts rightward.
The demand for bus rides is a downward-sloping straight line demand curve. The price elasticity of demand for bus rides ________
A) increases as the price of a bus ride falls B) decreases as the price of a bus ride falls C) is the same no matter what the price of a bus ride D) decreases as the price of a bus ride rises
Explain why the tax multiplier is different from the government purchases multiplier, in both sign and relative magnitude
What will be an ideal response?