Suppose Regretta Sigh becomes the lucky winner of a $10,000,000 state lottery jackpot after purchasing a single $1.00 lottery ticket. How does her lucky expenditure affect current GDP?
A) GDP rises by $1.00.
B) GDP rises by $9,999,999.
C) GDP rises by $10,000,000.
D) GDP rises by $10,000,001.
E) GDP rises by the present value of the total cash prize.
A
Economics
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The velocity of circulation grows at 1 percent and real GDP grows at 3 percent. If the quantity of money grows at 2 percent, the inflation rate is
A) 8 percent. B) 10 percent. C) zero. D) 2 percent. E) 4 percent.
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The break-even investment line becomes steeper when the depreciation growth rate ________ or the labor force growth rate ________
A) increases; decreases B) increases; increases C) decreases; increases D) decreases; decreases
Economics