At 2015 prices, the value of production in 2016 was 6 percentage points higher than in 2015. At 2016 prices, the value of production in 2016 was 4 percentage points higher than in 2015
Using the chain-weighted output index, real GDP is ________ in 2016 than in 2015. A) 10 percent greater
B) 5 percent greater
C) 7.5 percent greater
D) 4 percent smaller
B
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The phenomenon which occurs when markets do not produce the most efficient outcome on their own is known as
A) market failure. B) imperfect information. C) economic certainty. D) public goods.
A global network that provides knowledge and resources to developing countries is called the:
A. International Resource Fund. B. World Bank. C. World Trade Organization. D. United Nations Development Program.
A street light is
a. rival and exclusive, and therefore is a public good b. nonrival, but since it is exclusive, it is a private good c. exclusive, but since it is nonrival, it is a public good d. nonrival and nonexclusive, and therefore is a public good e. nonrival and nonexclusive, and therefore is a private good
When the Fed buys government bonds on the open market from commercial banks, the
a. assets of these banks fall b. assets of the Fed falls c. assets of the banks rise d. liabilities of the bank rise e. liabilities of the bank fall