Real GDP is better than nominal GDP for measuring growth because real GDP has been adjusted for changes in
A. Productivity.
B. The price level.
C. Unemployment.
D. The business cycle.
Answer: B
You might also like to view...
If society decides it wants more of one good and all resources are fully utilized, then
A) additional resource supplies will have to be found. B) it is unable to do this unless technology advances. C) it has to give up some of another good and incur some opportunity costs. D) more unemployment will occur.
In the late 1950s and early 1960s, postwar U.S. economic performance led to the formulation of and belief in a
A) vertical Phillips Curve in the short and long runs. B) vertical Phillips Curve in the long run. C) horizontal Phillips Curve in the short and long runs. D) downward-sloping Phillips Curve in the short and long runs.
Suppose the dollar depreciates from 89 Japanese yen to 79 Japanese yen. One would expect
a. U.S. imports to increase b. U.S. exports to increase. c. Japanese exports to increase. d. Japanese net exports to increase.
Who owns a commercial bank?
a. Its depositors b. Its stockholders c. Lenders d. Savers e. The Federal Reserve