If nominal GDP rose by 10 percent and the price index increased from 100 to 105 in a given year, real GDP:
a. rose by 15 percent
b. rose by roughly 9.5 percent.
c. rose by 5 percent.
d. fell by 5 percent.
c
Economics
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The marginal product of labor is
A) total product divided by labor. B) the change in total product divided by the increase in labor. C) a measure of labor. D) output that does not meet quality specifications. E) total product minus the quantity of labor.
Economics
Luis wonders why commercials appear more frequently at the end of a TV movie than at the beginning. Carol says that this pattern can be explained by the
a. share of the viewer's budget spent on TV watching b. length of the adjustment period c. cost of supplying additional minutes of the movie d. high elasticity of demand for watching the end of a TV movie e. availability of substitutes
Economics