Refer to the data. In determining real GDP, the nominal GDP for:
Assume an economy that makes only one product and that year 3 is the base year. Output and price data for a five-year period are as follows. Answer the question on the basis of these data.
A. each year must be multiplied by the relevant price index.
B. years 1 and 2 must be inflated.
C. years 4 and 5 must be inflated.
D. years 1 and 2 must be deflated.
B. years 1 and 2 must be inflated.
Economics
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Which of the following is an example of cryptocurrency?
A) U.S. dollar B) Japanese yen C) Euro D) Bitcoin
Economics
As the tax rate decreases, the absolute value of the tax multiplier
A. increases. B. does not change. C. decreases. D. could either increase or decrease depending on the value of the MPC.
Economics