According to your text, disagreements about the relative efficiency of particular projects are usually disagreements about
A) the best way to conserve energy.
B) the best way to conserve non-renewable resources of all kinds.
C) scientific facts or technical processes.
D) the relative value of particular goods to different people.
E) who is entitled to make money from one project or another.
D
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Suppose that nominal GDP in 2016 was less than real GDP in 2016. Given this information, we know for certain that
A) real GDP in 2016 was greater than real GDP in the base year. B) the price level in 2016 was less than the price level in the base year. C) real GDP in 2016 was less than real GDP in the base year. D) the price level in 2016 was greater than the price level in the base year.
The purchasing power parity predicts that if the price level in the US falls relative to Mexico,
a. The dollar will appreciate relative to the peso b. The dollar will depreciate relative to the peso c. There is no effect on either currency d. PPP predicts price level will normalize in the long-run