What is the real GDP in year 2 using base year 2?
A) $418.
B) $300.
C) $360.
D) $338.
A
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The Central Bank of Wiknam decreases the money supply at the same time the Parliament of Wiknam repeals a new investment tax credit. Which of these policies shifts aggregate-demand curve to the left?
a) the investment tax credit repeal but not the money supply decrease b) the money supply decrease but not the investment tax credit repeal c) both the money supply decrease and the investment tax credit repeal d) neither the investment tax credit repeal nor the money supply decrease
Which of the following will be excluded from the measurement of gross domestic product (GDP)?
a. The market value of automobiles purchased by the federal government b. The market value of California wine purchased by a Canadian firm c. The payment of employees' medical insurance d. The market value of computers purchased by state governments e. The market value of transactions in the underground economy