In the linear breakeven model, a firm incurs operating losses whenever output is less than the breakeven level

When some benefits are received by those who are not involved in a private transaction, a negative externality occurs

a. True b. False Indicate whether the statement is true or false

If in some year real GDP was $25 billion and the GDP deflator was 68, what was nominal GDP?

a. $2.72 billion. b. $17 billion. c. $36.8 billion. d. $43 billion.