If prices have been rising since the base year for GDP (which was years ago), which will be smaller?
A. nominal GDP
B. real GDP
C. cannot say
Ans: B. real GDP
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Which of the following is likely to happen when the interest rate falls?
A) The volume of economic activity will reduce. B) The labor demand curve will shift to the left. C) Equilibrium wage rate will fall. D) The labor demand curve will shift to the right.
_______ are outlooks or opinions that express values, serve as a means of evaluation, or demonstrate feelings in regard to ideas, people, events, situations, or relationships. They are expressions of likes and dislikes
a. Attitudes b. Resources c. Goal orientations d. Preferences
The total lag for fiscal policy tends to be shorter than the total lag for monetary policy
a. True b. False Indicate whether the statement is true or false
What was the official poverty level for a person living alone in 2012?
a. 10,900 b. 11,170 c. 18,850 d. 23,050