Private profits provided colonial producers with incentive to direct the use of their regional resources in those fashions that produced the highest yield in world markets

Based on the table "Real and Nominal GDP," if year one is the base year, then the GDP deflator for year three is ________

A) 165 B) 139.8 C) 85.8 D) 133.6 E) 114.6

The tradeoff for monetary policy represented by the Phillips curve is

a. lower inflation for lower output. b. lower inflation for higher unemployment. c. lower inflation for higher employment. d. higher expected inflation for higher output. e. none of the above.