If the price of pizza is $10 this year and $15 next year, then 200 pizzas would contribute
A. $2,000 to this year’s GDP and $2,000 to next year’s nominal GDP.
B. $3,000 to this year’s nominal GDP and $3,000 to next year’s nominal GDP.
C. $2,000 to this year’s nominal GDP and $3,000 to next year’s nominal GDP.
D. $3,000 to this year’s GDP and $2,000 to next year’s GDP.
Answer: C
You might also like to view...
In managing its liabilities to deal with liquidity problems, banks trade off
A) credit risk against interest rate risk. B) adverse selection against moral hazard. C) the need for available funds to meet deposit outflows against the desire for greater profit. D) present tax liabilities against future tax liabilities.
The ideas of economist Arthur Laffer became the centerpiece for tax policy during the:
A. Ford administration. B. Clinton administration. C. Nixon administration. D. Reagan administration.