If Jim pays $1000 to John:
a. GDP will increase by $1000
b. GDP will increase, but we cannot determine by what amount.
c. nominal GDP will increase, but we cannot be sure if real GDP will increase or decrease.
d. we need more information in order to determine whether or how much GDP will change.
d
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On the island country of Sunshine where the unit of currency is fish, net exports are 50 fish, saving is 250 fish, net taxes are 100 fish, and the government budget deficit is 175 fish. The private sector has a ________
A) deficit of 125 fish B) surplus of 125 fish C) deficit of 225 fish D) surplus of 225 fish
Which of the following is not a disadvantage of a proprietorship?
A) how profits are taxed B) ability to raise capital C) unlimited liability D) the disposition of the firm when the owner dies
Which of the following will possibly cause a leftward shift in the production possibility curve, representing good X and good Y?
a. A decrease in a country's GDP b. An increase in the price of good X c. An increase in the price of good Y d. A decrease in the price of good Y e. A decrease in the price of good X
Refer to the information above. Given this information, the steady state rate of growth of output per worker is
A) 0. B) 2%. C) 3%. D) 5%. E) 16%.