Suppose that real GDP starts at 100 and grows at a rate of 10 percent per year for two years. In the third year real GDP would be

If currencies around the world are based on the gold standard, and the EU lowers the amount of gold for which the euro will trade, then holding all else constant,

A) the euro will depreciate against the dollar. B) the value of U.S. exports to EU countries in terms of the euro will decrease. C) the value of the euro relative to the dollar will stay constant. D) the euro will appreciate against the dollar.

In comparison to a competitive market, a monopsony generates

A) deadweight loss. B) larger low-wage employment. C) more high-wages jobs. D) more output.