Based on the information in Scenario 1, nominal GDP in 2015 in this economy was

A) $830. B) $1,025. C) $1,090. D) $1,345.

A

Economics

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When a national security crisis forces the government to draft workers, this often results in price increases because the supply curves of most goods shift to the left. The people who suffer the price-increase consequences mostly are

a. those who are drafted b. farm goods suppliers because they have less to supply c. consumers of farm goods because farm goods are basic goods d. the rich because they can afford to pay the higher prices, but they pay substantially more e. the poor because they are priced out of the markets

Economics

Other things equal, increased exports of Japanese products to the United States will:

A. Increase the supply of Japanese yen in the foreign exchange market B. Increase the demand for Japanese yen in the foreign exchange market C. Increase the demand for U.S. dollars in the foreign exchange market D. Have no effect on either the supply or demand for Japanese yen or American dollars

Economics