In any year, nominal GDP divided by the GDP chain price index times 100 equals real GDP

Explain how the United Nations uses the Human Development Index (HDI) to better measure the standard of living around the globe

What will be an ideal response?

Refer to Figure 3-8. The graph in this figure illustrates an initial competitive equilibrium in the market for motorcycles at the intersection of D1 and S2 (point B)

If there is an increase in number of companies producing motorcycles and a decrease in income (assume motorcycles are a normal good), the equilibrium could move to which point? A) A B) B C) C D) E