During the late 1990s, Japan experienced reductions in the GDP deflator. Given this information, we know with certainty that
A) real GDP fell during these periods.
B) real GDP did not change during these periods.
C) the overall price level in Japan decreased during these periods.
D) both real GDP and the overall price level decreased during these periods.
C
You might also like to view...
In the 1960s, U.S. economy experienced
A. a substantial decline in real GDP but limited inflation. B. a substantial decline in real GDP coupled with significant inflation. C. substantial real GDP growth coupled with significant inflation. D. substantial real GDP growth with limited inflation.
In the case of Intimate Bookshop v. Barnes & Noble, Intimate alleged that Barnes & Noble
a. was bundling products in order to reduce competition. b. used technological advances to sell at lower prices. c. was buying books at discriminatory prices. d. had merged with other competitors in an effort to gain monopoly power.
Public choice analysis indicates
a. politicians under representative democracy are led as if by an invisible hand to adopt legislation that enhances the wealth of a nation. b. political structures consistent with economic efficiency tend to emerge naturally from the ordinary political process. c. constitutional rules establishing procedures and limiting the ability of the political process to engage in redistributive activities can improve the economic efficiency of government. d. all of the above are correct.
Consider the production possibilities frontier displayed in the figure shown. Which of the following combinations could be produced?
A. (10 watermelons, 400 bushels of apples) B. (15 watermelons, 100 bushels of apples) C. (20 watermelons, 400 bushels of apples) D. (10 watermelons, 300 bushels of apples)