A nation produces three products, A, B, and C. Over two years, the prices of these products change while the quantities produced remain constant, as follows:
Over the period referred to, the nation's nominal GDP increased by 5 percent. The nation's real GDP changed by approximately:
A.
2 percent
B.
3 percent
C.
0 percent
D.
-2 percent
C.
0 percent
Economics
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During the past decade, U.S. imports of business services have ________, U.S. exports of business services have ________, and U.S. net exports of business services have ________
A) increased; increased; increased B) increased; decreased; decreased C) decreased; increased; increased D) increased; increased; not changed E) decreased; decreased; increased
Economics
Which of the following are expected consequences of common ownership of property and resources?
(a) The threat of corrupt use (b) The danger of over use (c) Free riding (d) All of the above
Economics