A change in nominal GDP sums up changes in
A) prices alone.
B) physical production alone.
C) physical production and hours of production time.
D) physical production and prices.
D
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Suppose that goods X and Y are substitutes and the price of good Y falls. We would then expect
A) the quantity of good Y demanded to increase and the demand for good X to increase also. B) an increase in the demand for good X and a decrease in the quantity of good Y demanded. C) an increase in the quantity demanded of good Y and a decrease in the demand for good X. D) an increase in the demand for both good X and good Y.
Which of the following would likely increase the money supply?
a. The purchase of government securities by one bank from another bank b. An increase in the required reserve ratio c. An increase in the reserves of a commercial bank d. An increase in the discount rate e. The sale of government securities by a bank to the Fed
If there are 95 million people working, 5 million discouraged workers, 5 million receiving unemployment insurance benefits, and 10 million officially unemployed, how many people are in the labor force?
A. 95 million B. 100 million C. 105 million D. 110 million E. 115 million
The 2017 price level in Japan was relatively lower than the price level in the United States. Thus, a U.S. manufacturing facility looking to buy aluminum for its plant would most likely buy aluminum from Japan.
Answer the following statement true (T) or false (F)