If in some year nominal GDP was $10 trillion and real GDP was $4 trillion, what was the GDP deflator?
a. 25.
b. 40.
c. 250.
d. 400.
c
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The official poverty rate for all persons declined sharply between 1959 and:
a. 2000. b. 1970. c. 1980. d. 1990.
Developing countries often justify imposition of tariffs because:
a. it creates a burden on government budget. b. it is easy to collect direct taxes from people in the developing countries. c. a large number of people in the developing countries earn a taxable income. d. developing countries find income taxes difficult to levy and collect. e. the volume of imports of these countries is considerably low.
Successful export-led growth policy entails:
A. choosing the "right" industries to invest in. B. blocking the "right" industries from importing to domestic markets. C. choosing the "right" incentives to encourage exports. D. choosing the "right" disincentives to reduce imports.
Consider Mandy's decision to go to college. If she goes to college, she will spend $20,000 on tuition, $10,000 on room and board, and $2,000 on books. If she does not go to college, she will earn $18,000 working in a store and spend $8,000 on room and board. Mandy's cost of going to college is
a. $32,000. b. $42,000. c. $50,000. d. $58,000.