Late in the 2000–2009 decade, real estate prices in the U.S. fell by a greater percentage than they had fallen since the

Refer to Table 19-18. What is the GDP deflator in 2011 if 2016 is the base year?

A) 187 B) 87 C) 8.7 D) 0.87

Based on our understanding of the labor market model presented in Chapter 6, we know that an increase in the markup will cause

A) an increase in the equilibrium real wage. B) a reduction in the equilibrium real wage. C) a reduction in the natural rate of unemployment. D) both B and C