Real GDP measures ________.
A. base year output at current prices
B. current output at current prices
C. base year output at current exchange rates
D. current output at base year prices
Answer: D
Economics
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Which of the following would cause a decrease (leftward shift) in the short-run aggregate supply curve (SRAS)? a. An increase in oil prices. b. An advance in technology
c. An increase in the CPI. d. An increase in the long-run aggregate supply curve (LRAS).
Economics
When the government steps in to help determine prices, it is called
a. price ceilings. b. price floors. c. equilibrium prices. d. price control.
Economics