An increase in the price of a good will
a. increase demand
b. decrease demand.
c. increase quantity demanded.
d. decrease quantity demanded.
d
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Why is real GDP a more accurate measure of the level of production in an economy than nominal GDP? Explain with an example
What will be an ideal response?
Refer to Figure 2-8. What is the opportunity cost of producing 1 ton of pineapples in Costa Rica?
A) 3/8 of a ton of coconuts B) 2/3 of a ton of coconuts C) 1 1/2 tons of coconuts D) 100 tons of coconuts
Refer to Figure 18-6. If area X = 2,060, area Y = 240, and area Z= 2,700, calculate the Gini coefficient for Syldavia
A) 0.05 B) 0.12 C) 0.46 D) 0.85
The uses-of-saving identity says that an economy's private saving is used for
A) investment, interest expenses, and the government budget deficit. B) investment, the government budget deficit, and the current account. C) investment, interest expenses, the government budget deficit, and the current account. D) investment, interest expenses, the government budget deficit, transfer payments, and the current account.