The GDP price index equals ________.
A. gross private domestic investment less the consumption of fixed capital
B. nominal GDP divided by real GDP
C. gross national product less net foreign factor income earned in the United States
D. real GDP divided by nominal GDP
Answer: B
You might also like to view...
Let D = demand, S = supply, P = equilibrium price, and Q = equilibrium quantity. What happens in the market for electric vehicles if the government offers incentives to manufacturers to produce more electric vehicles?
A) S increases, D no change, P decreases, Q increases B) D no change, S increases, P decreases, Q decreases C) D increases, S no change, P and Q increase D) D and S increase, P and Q decrease
Which of the following is NOT an economic function of government?
A) providing a legal system B) ensuring economic stability C) providing government-inhibited goods D) promoting competition