Which of the following would increase GNP in the United States?
A) an increase in the production of Japanese-owned Toyota cars in the U.S.
B) an increase in the production of Japanese-owned Toyota cars in Mexico
C) an increase in the production of Mexican-owned Grupo Minsa corn in the U.S.
D) an increase in the production of U.S.-owned General Motors cars made in Mexico
D
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Under fixed exchange rates, domestic asset transactions by the central bank
A) can be used to alter the level of foreign reserves but not to affect the state of employment and output. B) cannot be used to alter the level of foreign reserves but only to affect the state of employment and output. C) can be used to alter the level of foreign reserves and to affect the state of employment and output. D) can be used to alter the domestic money supply and the level of foreign reserves. E) can raise output to full-employment level.
? Nominal GDP is $10,000 billion in 2011, but real GDP is only $9,000. It follows that:
a. the GDP deflator is equal to 111
b. the GDP deflator is equal to 100.
c. the GDP deflator is equal to 90.
d. prices must have decreased relative to the base year.