Which of the following represents real GDP?
A) GDP in constant dollars
B) GDP in terms of goods
C) GDP in base year dollars
D) all of the above
A
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A nonmonetary opportunity cost is
A) an explicit cost. B) a direct cost. C) an implicit cost. D) an accounting cost.
Everything else held constant, a stronger dollar benefits ________ and hurts ________
A) American businesses; American consumers B) American businesses; foreign businesses C) American consumers; American businesses D) foreign businesses; American consumers
Other things being equal, the effects of an increase in the price of crackers on the market for soup is represented by a(n):
a. downward movement along the demand curve for soup. b. upward movement along the demand curve for soup. c. rightward shift in the demand curve for soup. d. leftward shift in the demand curve for soup.
If the money interest rate is 7 percent and the inflationary premium 4 percent, the real interest rate is
a. -3 percent. b. 3 percent. c. 4 percent. d. 7 percent.