A country reported a nominal GDP of $85 billion in 2010 and $100 billion in 2009. It also reported a GDP deflator of 100 in 2010 and 105 in 2009. Between 2009 and 2010,
a. real output and the price level both rose.
b. real output rose and the price level fell.
c. real output fell and the price level rose.
d. real output and the price level both fell.
d
Economics
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Refer to Table 15-3. If Comcast wants to maximize its profits, what price (P) should it charge and how many cable subscriptions per month (Q) should it sell?
A) P = $12; Q = 8 B) P = $16; Q = 4 C) P = $14; Q = 6 D) P = $15: Q = 5
Economics
If the consumption function is given by C = 100 + .6(Y-T) and planned investment is 150, government spending is 50, and T is 100, then equilibrium income is
a. 600 b. 750 c. 400 d. 350
Economics