If the base year is 2010, the nominal GDP for 2015 is $12,800.5 billion, and the GDP deflater for 2015 is 102.3, what is the real GDP for 2015 compared to 2010?

What benefits did an overvalued currency offer a domestic economy in the ISI period? Which sectors were typically harmed by overvalued currencies?

What will be an ideal response?

Darby (1984) argues that the problem with declining productivity of the 1970s was not an issue. He adjusted labor productivity upward to take into account which of the following?

(a) The immigration policies of the 1970s restricted the free migration of highly qualified workers. (b) More men than women re-entered the workforce. (c) The overall labor force was relatively young and comprised of individuals still maturing in their knowledge base and skill sets. (d) The labor force of the 1970s was older, more senior and had gained more experience than in the past.