A country reported nominal GDP of $115 billion in 2010 and $125 billion in 2009 . It also reported a GDP deflator of 85 in 2010 and 100 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.
b
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Bureaucrats who believe in the mission of their bureaus will want to maximize their bureau's budgets to further their perception of the public interest
a. True b. False
In order for Ethiopia to increase its future economic growth, it must choose a point that is:
a. below its production possibilities curve. b. further along on its production possibilities curve toward the capital goods axis. c. further along on its production possibilities curve toward the consumption goods axis. d. further along on its production possibilities curve away from the population axis. e. above its production possibilities curve.