What would the Balance on Goods and Services equal given the following information?Government Taxes= $700; Saving= $100; Gross Private Domestic Investment= $400; Government Spending= $600
a. It is impossible to tell.
b. +$1,800
c. +$200
d. -$200
e. +$800
.D
Economics
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Last year the price level increased from 118 to 122. The increase in the price level leads to a decrease in
A) potential GDP. B) the money wage rate. C) the buying power of money. D) the real interest rate. E) the price of domestic goods and services relative to foreign goods and services.
Economics
Bananaland produces only bananas and sunscreen and the quantities and prices for 2012 and 2013 are given in the table above. The base year is 2012. In 2013, which is larger, nominal GDP or real GDP?
A) Both are the same size. B) Nominal GDP is larger. C) Real GDP is larger. D) The answer is ambiguous. E) More information is needed to determine which is larger.
Economics