Bill created a new software program he is willing to sell for $200 . He sells his first copy and enjoys a producer surplus of $150 . What is the price paid for the software?

The greater the MPC is, the ___ the slope of the demand curve.

a. greater b. smaller c. It depends on the trade balance. d. The slope of the demand curve does not depend on this.

In year one, the GDP deflator is 100 and in year two 110. If nominal GDP in year two is $300 billion, what is real GDP for year two?

A) $200 billion. B) $100 billion. C) $272.73 billion. D) $220 billion.