Assume that between 1999 and 2009 nominal GDP increased from $7 trillion to $12 trillion and that the GDP deflator rose from 100 to 150 . Which of the following expresses GDP for 2009 in terms of 1999 prices?
a. $7.5 trillion
b. $8.0 trillion
c. $9.0 trillion
d. $18.0 trillion
B
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If stock prices follow a random walk,
A. speculation in the stock market destabilizes prices. B. a stock’s past performance is not a good indicator of its future performance. C. rumors, news, and other “signals” have no effect on stock prices. D. the stock market does not participate in channeling resources toward firms with high stock prices.
A second-price auction
a. is also called an English auction b. is where the highest bidder wins and pays the amount of the next highest bid c. is where the sole remaining bidder wins and pays his winning bid d. all of the above
With time, a depreciation in the value of a nation's currency in the foreign market will cause the nation's
a. imports to increase and exports to decline. b. exports to increase and imports to decline. c. imports and exports to decline. d. imports and exports to rise.
We can say that output has definitely been expanded too far when we reach the point of
A. increasing returns. B. diminishing returns. C. negative returns.