Real GDP is nominal GDP adjusted for
a. price changes
b. intermediate goods
c. business cycle fluctuations
d. international trade
e. depreciation
A
Economics
You might also like to view...
Which of the following is a characteristic of oligopoly?
A) easy entry and exit B) many firms C) strategic dependence D) none of the above
Economics
Use the above table. Assuming constant opportunity costs, if countries Alpha and Beta specialize based on comparative advantage, then
A) Alpha should specialize in knives and Beta should specialize in forks. B) Alpha should specialize in forks and Beta should specialize in knives. C) Alpha should specialize in producing both items. D) Beta should produce both items.
Economics