Based on the table "Real and Nominal GDP," if year three is the base year, then the real GDP in year two is ________
A) 8250
B) 5900
C) 7500
D) 6775
E) none of the above
D
You might also like to view...
Refer to the Article Summary. Assuming the findings are correct and all else equal, people who do not shop at Trader Joe's can still benefit from living near the store, as is shown by the higher home values. As a result, the marginal social benefit from living near a Trader Joe's is ________ the marginal private benefit to those who shop at Trader Joe's.
A) less than B) equal to C) greater than D) unrelated to
Market prices contain
A) some information. B) all information. C) only past information. D) a bias for old stocks.
Consider the salary of Mary Sue Nelson, a sales agent for Plain Truth Advertising. She has an effort cost of C = e2 and a reservation wage of $1,500 so that her compensation package is W = 1,500 + 0.2 Q, where the CEO sets the incentive at 0.2 and Q = 200 e. Here effort is known only by the employee. There is a random shock to output each period whose mean is zero. (a) What is the optimal effort for Mary Sue Nelson? (b) On average, what total wage or salary will she earn each month? (c) On average, what is the output of sales contracts that she makes? (d) On average, what kind of profit will the CEO earn off of Nelson's work?
What will be an ideal response?
The two basic reasons why economists often appear to give conflicting advice to policymakers are differences in
a. opinions and education. b. opinions and values. c. scientific judgments and education. d. scientific judgments and values.