Use the following table to answer the next question. The base year is 2007. Hot DogsBaseballsBottles of SodaYearPriceQuantityPriceQuantityPriceQuantity2005$2.00100$5.0050$2.0010020064.001005.001002.0015020076.001005.001002.0020020088.001508.002004.00200200910.0020010.002004.00250Nominal GDP for 2009 equals ________.
A. $2,300
B. $5,000
C. $2,700
D. $3,600
Answer: B
You might also like to view...
What revived the United States' economy out of the Depression in the early 1940s?
A. the New Deal B. a tax cut C. spending on the war D. suburbanization
Suppose Jack and Kate are at the town fair and are choosing which game to play. The first game has a bag with four marbles in it-1 red marble and 3 blue ones. The player draws one marble from the bag; if it is red, they win $20 and if it is blue, they win $1. The second game has a bag with 10 marbles in it-1 red, 4 blue, and 5 green. The player draws one marble from the bag; if it is red, they win $20; if it is blue, they win $5; and if it is green, they win $1. Both games cost $5 to play. If Jack only cares about expected value, and not risk, he should decide to play a game if:
A. the expected value of the payoff is higher than the price to play the game. B. the expected value of the payoff is lower than the price to play the game. C. the expected value of the payoff is higher than the expected value of the payoff in the other game. D. the expected value of the payoff is double the price to play the game.
Which is an example of barter?
A. A person trades a desk for a box of tools B. A person buys clothes at a used clothing store C. A gift of tuition money from parents to their children D. The purchase of stock on the New York Stock Exchange
One reaction of firms to the adverse selection problem is to
A) rely on internal funds to finance investment. B) use the stock market rather than the bond market to raise funds. C) use the bond market rather than the stock market to raise funds. D) borrow long-term rather than short-term.