The group of goods and services used to compute the GDP deflator changes automatically over time, but the group of goods and services used to compute the CPI does not
a. True
b. False
Indicate whether the statement is true or false
True
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A factor not indicated by the GDP measurement that would tend to raise the standard of living for the same GDP is a(n)
a. increase in population size. b. rise in the price level. c. jump in external costs. d. shift toward production of consumer-oriented goods and services.
The rate of return that financial investors require to hold a risky asset minus the rate of return on a safe asset is called the:
A. risk premium. B. real interest rate. C. nominal interest rate. D. discount rate.
The concepts of specialization and gains from trade can be applied to:
A. consumer decisions. B. international trade. C. household decisions. D. why globalization has expanded recently.
The quantity and quality of ________ of a country are its factor endowments.
A. deficits and surpluses B. imports and exports C. labor, land, and natural resources D. commodity money and fiat money