Suppose the total monetary value of all final goods and services produced in a particular country during one year is $500 billion, and the total monetary value of final goods and services sold is $450 billion. We can conclude that ________.
A. real GDP in 2010 is $450 billion
B. inventories in 2010 fell by $50 billion
C. nominal GDP in 2010 is $450 billion
D. nominal GDP in 2010 is $500 billion
Answer: D
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The Open Market Committee is composed of
a. the 7 members of the Board of Governors. b. the 7 members of the Board of Governors and the president of the Federal Reserve Bank in New York. c. 12 voting members, and of these, 5 are presidents of regional Federal Reserve banks and the other 7 are the members of the Board of Governors. d. the presidents of each of the 12 Federal Reserve banks.
Industrial policy involves governments using taxes, subsidies, and regulations to nurture the development of specific industries
a. True b. False Indicate whether the statement is true or false
When the slope of the total production curve begins to flatten:
A. additional inputs adds less to total production than the inputs added before. B. diminishing marginal product must be occurring. C. the marginal product must be decreasing. D. All of these are true.
We would expect the interest rate on Bond A to be lower than the interest rate on Bond B if the two bonds have identical characteristics except that
a. the credit risk associated with Bond A is lower than the credit risk associated with Bond B. b. Bond A was issued by the Apple corporation and Bond B was issued by the city of Houston. c. Bond A has a term of 20 years and Bond B has a term of 2 years. d. All of the above are correct.