Refer to the above table. Real GDP in 2017 is
A. 500.
B. 190.8.
C. 524.1.
D. 477.
Answer: C
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"Because the nominal interest rate is the opportunity cost of holding money, the supply curve of money slopes downward." Is the previous statement correct or incorrect?
What will be an ideal response?
The use of chlorofluorocarbons in refrigerators and air conditioners is alleged to cause the destruction of the ozone layer that surrounds the earth and protects humans from ultraviolet radiation. Output of this substance has been restricted by a licensing system where producers have to bid in the open market for licenses to produce them in specified quantities. This is an example of dealing with externalities by
A. voluntary compliance. B. direct controls. C. taxes. D. cap-and-trade.
If the CPI changed from 210.6 in 2007 to 209.4 in 2008 to 206.3 in 2009, this would be an example of
A. disinflation. B. escalating inflation. C. creeping inflation. D. deflation.
We were on the gold exchange standard from the year ________ to the year _________.
Fill in the blank(s) with the appropriate word(s).