If the relative price of one unit of good Y is 0.25 units of good Z, then it follows that the absolute price of good Z can be __________ and the absolute price of good Y can be __________
A) $4,000; $2,000
B) $1,000; $2,000
C) $2,000; $1,000
D) a and c
E) none of the above
E
Economics
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If the nominal gross domestic product (GDP) is $6 trillion for a particular year, and the real GDP is $3 trillion, then the GDP price index is 167
a. True b. False Indicate whether the statement is true or false
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Externalities can be corrected by each of the following except
a. self-interest. b. moral codes and social sanctions. c. charity. d. normal market adjustments.
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