Refer to Table 19-15. Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The GDP deflator for 2015 equals
A) 94.1. B) 105.1. C) 106.2. D) 108.5.
C
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Why might IS policies make a country likely to incur a large foreign debt?
What will be an ideal response?
If all the world's resources were to magically increase one hundredfold, then:
A. economics would no longer be relevant. B. people would still have to make trade-offs. C. scarcity would disappear. D. trade-offs would become unnecessary.
In Macroland, potential output equals $100 trillion and the natural rate of unemployment is 4 percent. If the actual unemployment rate is 5 percent, then the output gap equals:
A. 1 percent. B. 2 percent. C. ?1 percent. D. ?2 percent.
To convert U.S. dollars into another currency, _____.
(A) Divide the number of dollars by the number of units of the other currency. (B) Divide the rate of exchange by the number of units of the other currency. (C) Multiply the number of dollars by the number of units of the other currency per dollar. (D) Multiply the number of units of the other currency by the number of dollars.