Which of the following is correct?
a. Nominal GDP is always less than real GDP.
b. Nominal GDP is always greater than real GDP.
c. Nominal GDP equals real GDP in the base year.
d. Nominal GDP equals real GDP in all years but the base year.
c
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Marginal revenue
a. Is the additional revenue incurred by selling one more unit b. Is the total revenue incurred by selling one more unit c. Is the total revenue incurred by selling all the firm's output d. Is the difference between total revenue and total costs
A factor increasing the popularity of monetarism in the late 1970s was the
a. ease with which the Fed controlled the money supply. b. excellent performance of the economy in the 1970s. c. the fear of budget deficits and growing federal debt. d. the predictable behavior of velocity until about 1980.