According to the classical dichotomy, which of the following is influenced by monetary factors?
a. nominal wages
b. unemployment
c. real GDP
d. All of the above are correct.
a
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Refer to the above table. The equilibrium real GDP is
A) $14 billion. B) $12 billion. C) $15 billion. D) $13 billion.
The kinked demand curve is an explanation of sticky prices.
Answer the following statement true (T) or false (F)
Large quantities of many products produced in the United States are exported to purchasers in other countries. Exports account for the largest share of which one of the following products produced in the United States?
What will be an ideal response?
Adding the market value of all final and intermediate goods and services in an economy in a given year would result in:
A. an amount less than GDP for that year. B. an amount greater than GDP for that year. C. the calculation of GDP for that year. D. the calculation of NDP for that year.