Nominal GDP increases when either or both prices and output increase
Indicate whether the statement is true or false
T
You might also like to view...
In the figure above, if pizza production is restricted to 5,000 pizzas a day, then marginal benefit ________ marginal cost, and ________ occurs
A) exceeds; overproduction B) exceeds; underproduction C) is below; overproduction D) is below; underproduction E) exceeds; efficient production
If everyone has a dominant strategy in a simultaneous move game, then the action that is played by that strategy is played in all stages of any finitely repeated version of that game in any subgame perfect equilibrium.
Answer the following statement true (T) or false (F)
People derive utility in their lives from consuming goods (all other goods), g, and clean air (measured as the number of particulates removed per m3), a, as measured with the utility function U(g,a) = g0.6a0.4
The price index of consumer goods equals $20 per day. Income equals $1000. What is likely to happen to the number of asthma cases as the price of clean air (abatement cost) increases from $10 to $20? A) Asthma cases decrease because the particulants per m3 increases by 2 units. B) Asthma cases increase because the particulant per m3 decreases by 2 units. C) Asthma cases increase because the particulants per m3 increase by 2 units. D) There is not enough information to answer this question.
When government spending increases, consumption also increases via the multiplier process.
Answer the following statement true (T) or false (F)