The multinational agency that specializes in making loans to developing nations in an effort to promote long-term development and growth is the

If we knew that nominal GDP was currently $7500 billion, and that current GDP in dollars of 1992 purchasing power was $5000 billion, what would we know about the GDP deflator?

A) It would be .667. B) It would be 150. C) Nothing until we had current information on the price level, such as consumer price index figures. D) Only that a dollar buys more currently than it bought in 1992. E) Only that a dollar currently buys less than it bought in 1992.

Which of the following is an accurate statement about the effect of close substitutes?

a. Goods with many close substitutes will usually have elastic demands. b. Goods with many close substitutes will usually have inelastic demands. c. Goods with few close substitutes will usually have perfectly elastic demands. d. Goods with few close substitutes will usually have perfectly inelastic demands.