Nominal GDP =________ where the price level is the ________
A) Price level ÷ Real GDP; GDP deflator
B) Price level × Real GDP; CPI
C) Price level ÷ Real GDP; CPI
D) Price level × Real GDP; GDP deflator
E) none of the above
D
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The supply curve of money is horizontal at the market interest rate.
a. true b. false
In the short-run, a fall in demand results in _____ while in the long-run, a fall in demand results in ______
A. an increase in output and prices; a decline in output only B. a fall in prices and an increase in output; no change in output or prices C. a fall in prices only; and fall in output and prices D. a fall in output and prices; a fall in prices only
Which of the following statements about ticket scalping is correct?
A. On economic grounds, ticket scalping does more harm than good among those who engage in it B. Ticket scalping occurs when the event organizers set the formal price of the tickets higher than the equilibrium price C. The existence of a scalpers' market could mean that the event sponsors/organizers are getting lower sales revenues that what they could have gotten at equilibrium D. Ticket scalping obviously benefits the sellers/scalpers, but is often harmful to the ones buying the tickets
It should be possible to avoid intensifying crises when there are weak financial sectors if
A) banks pay closer attention to the maturity match between their debts and assets. B) governments do not run budget deficits. C) current account deficits are moderate. D) banks do not lend to unworthy creditors.