If real gross domestic product (GDP) for a particular year is $5 trillion and the GDP price index for that year is 136, the nominal gross domestic product (GDP) for that year is _____
a. $3.7 trillion
b. $4 trillion
c. $6.8 trillion
d. $27 trillion
e. $68 trillion
c
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Refer to the labor market in Figure 33.5. Suppose the government imposes a payroll tax on employers. How much of the tax burden is passed on to workers?
A. $8 - $7 = $1 per hour. B. $10 - $7 = $3 per hour. C. $7 per hour. D. $10 - $8 = $2 per hour.
On its web site, your bank posts the interest rates it is paying on savings accounts. Those posted rates
a. and a price index are both real variables. b. and a price index are both nominal variables. c. are real variables, and a price index is a nominal variable. d. are nominal variables, and a price index is a real variable
If a firm cannot cover its variable costs, it will
A. operate in the short run and stay in business in the long run. B. operate in the short run and go out of business in the long run. C. shut down in the short run and stay in business in the long run. D. shut down in the short run and go out of business in the long run.
A share of stock resembles a consol in all of the following ways except that the:
A. annual dividend the stock pays resembles the coupon on a consol. B. are both residual claims. C. share of stock does not have a maturity date. D. prices of both can be computed using a variation of the net present value formula.