The calculation of stockholder wealth involves

If the nominal gross domestic product (GDP) for a particular year is $4 trillion and the real GDP for that year is $3 trillion, then the GDP price index is 133

a. True b. False Indicate whether the statement is true or false

In deriving the demand schedule for a good, economists assume that

A) consumers have equal incomes to allocate among goods. B) a consumer will allocate all of her income to one good. C) all other influences on demand except the product price are held constant. D) reported income changes at each point on the demand schedule.