If the GDP deflator is less than 100, then for that year nominal GDP ________ real GDP
A) equals B) is less than
C) is greater than D) may be greater than or less than
B
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A perfectly competitive industry achieves allocative efficiency because
A) goods and services are produced up to the point where the last unit provides a marginal benefit to consumers equal to the marginal cost of producing it. B) firms carry production surpluses. C) it produces where market price equals marginal production cost. D) goods and services are produced at the lowest possible cost.
When deriving the production possibilities curve, it is assumed that
A) the amount of each good that is to be produced is fixed. B) the prices of resources are fixed along the curve. C) most resources can be used to produce only one good. D) resources are efficiently used.
A company X is unlikely to disclose its organizational chart to its competitor company Y to prevent leak of important strategic information about itself
Indicate whether the statement is true or false
What would happen if the German economy became viewed as a less desirable place for foreign investors to put their money because of fears about the growth of the German public debt?
a. Equilibrium would not change. b. A lower quantity of financial investment would result. c. A lower interest rate would result. d. Interest rates would not change.