Which of the following is an indicator of how much output the average person would get if all output were divided up evenly among the population?
A. Per capita GDP.
B. Nominal GDP.
C. Real GDP.
D. GDP deflator.
Answer: A
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Briefly discuss the main advantage of the bimetallic standard over the gold standard
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Other things constant, which of the following will most likely cause the dollar to appreciate on the exchange rate market?
a. higher interest rates in the United States b. a relatively low rate of inflation in the United States c. high rates of income growth in Europe d. all of the above
If speculators bid up the value of the U.S. dollar in the market for foreign exchange, then
a. U.S. goods become more expensive relative to foreign goods so aggregate demand shifts right. b. U.S. goods become less expensive relative to foreign goods so aggregate demand shifts right. c. U.S. goods become more expensive relative to foreign goods so aggregate demand shifts left. d. U.S. goods become less expensive relative to foreign goods so aggregate demand shifts left.
A "free rider" in economic theory is someone who
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