The principle that states that what matters to people is the real value or purchasing power of money is the:
A. marginal principle.
B. principle of diminishing returns.
C. spillover principle.
D. real-nominal principle.
Answer: D
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If nominal GDP is $5 trillion and real GDP is $4 trillion, the GDP deflator is
A) 12.5. B) 80. C) 125. D) 800.
Economists note that over most periods, the inflation level in prices is roughly similar to the inflation level in wages, and so they reason that on average, over time, people's economic status is not greatly changed by inflation
a. True b. False Indicate whether the statement is true or false
What is the difference between the actual deficit, the cyclically adjusted deficit, and the cyclical deficit?
What will be an ideal response?
Who determines the open-market operations of the Federal Reserve System?
A. FOMC B. Board of Governors C. FHLBB D. FDIC